Swiss National Bank Buys 358,100 Shares of Abbott Laboratories $ABT

Swiss National Bank grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 7.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,249,880 shares of the healthcare product maker’s stock after buying an additional 358,100 shares during the quarter. Swiss National Bank’s holdings in Abbott Laboratories were worth $714,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Willis Investment Counsel acquired a new position in Abbott Laboratories during the 2nd quarter worth approximately $14,548,000. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Abbott Laboratories by 1.5% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,172,985 shares of the healthcare product maker’s stock valued at $160,000 after acquiring an additional 17,167 shares in the last quarter. Prudential PLC raised its position in shares of Abbott Laboratories by 109.9% during the second quarter. Prudential PLC now owns 56,336 shares of the healthcare product maker’s stock worth $7,662,000 after purchasing an additional 29,492 shares during the period. Cumberland Partners Ltd bought a new position in shares of Abbott Laboratories in the 2nd quarter worth $1,564,000. Finally, Howe & Rusling Inc. grew its position in Abbott Laboratories by 4.3% in the 2nd quarter. Howe & Rusling Inc. now owns 5,711 shares of the healthcare product maker’s stock valued at $777,000 after purchasing an additional 233 shares during the period. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Down 1.7%

NYSE:ABT opened at $124.01 on Friday. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The firm has a 50-day moving average price of $130.06 and a two-hundred day moving average price of $131.25. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The firm has a market cap of $215.64 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. The company had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.Abbott Laboratories’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent research reports. Evercore ISI dropped their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. Barclays lifted their price target on Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. The Goldman Sachs Group increased their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Finally, Mizuho lifted their target price on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.