Prudential Financial Inc. Buys 506,093 Shares of Abbott Laboratories $ABT

Prudential Financial Inc. increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 27.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,353,356 shares of the healthcare product maker’s stock after purchasing an additional 506,093 shares during the quarter. Prudential Financial Inc. owned 0.14% of Abbott Laboratories worth $320,080,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Coldstream Capital Management Inc. lifted its holdings in shares of Abbott Laboratories by 15.2% in the 2nd quarter. Coldstream Capital Management Inc. now owns 83,571 shares of the healthcare product maker’s stock worth $11,367,000 after acquiring an additional 11,002 shares during the last quarter. Patrick Mauro Investment Advisor INC. raised its position in Abbott Laboratories by 4.9% in the 2nd quarter. Patrick Mauro Investment Advisor INC. now owns 5,341 shares of the healthcare product maker’s stock worth $687,000 after purchasing an additional 251 shares during the period. Vestor Capital LLC lifted its stake in Abbott Laboratories by 108.7% in the second quarter. Vestor Capital LLC now owns 151,696 shares of the healthcare product maker’s stock worth $20,632,000 after purchasing an additional 78,997 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Abbott Laboratories by 0.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 13,177,029 shares of the healthcare product maker’s stock valued at $1,792,209,000 after buying an additional 68,613 shares during the period. Finally, Enterprise Financial Services Corp grew its stake in shares of Abbott Laboratories by 1.9% during the second quarter. Enterprise Financial Services Corp now owns 9,176 shares of the healthcare product maker’s stock valued at $1,248,000 after buying an additional 173 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ABT. Raymond James Financial raised their price target on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Barclays boosted their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Benchmark started coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $127.97 on Friday. The firm has a 50 day moving average of $129.95 and a 200 day moving average of $131.20. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $222.52 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23.

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

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, October 15th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Wednesday, October 15th. Abbott Laboratories’s payout ratio is 29.57%.

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.