Cim Investment Management Inc. Increases Position in Abbott Laboratories $ABT

Cim Investment Management Inc. increased its position in Abbott Laboratories (NYSE:ABT) by 99.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,436 shares of the healthcare product maker’s stock after acquiring an additional 5,209 shares during the period. Cim Investment Management Inc.’s holdings in Abbott Laboratories were worth $1,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Tortoise Investment Management LLC lifted its holdings in shares of Abbott Laboratories by 10.7% during the second quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock worth $108,000 after purchasing an additional 77 shares during the period. FF Advisors LLC raised its position in Abbott Laboratories by 4.3% during the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after buying an additional 79 shares during the last quarter. Charles Schwab Trust Co lifted its stake in Abbott Laboratories by 0.6% during the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after acquiring an additional 79 shares during the period. Bridgewater Advisors Inc. boosted its holdings in shares of Abbott Laboratories by 0.6% in the 2nd quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock valued at $1,607,000 after acquiring an additional 79 shares during the last quarter. Finally, Nia Impact Advisors LLC increased its stake in shares of Abbott Laboratories by 2.2% in the second quarter. Nia Impact Advisors LLC now owns 3,706 shares of the healthcare product maker’s stock worth $504,000 after acquiring an additional 79 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Daiwa Capital Markets boosted their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Jefferies Financial Group boosted their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday, December 8th. Benchmark began coverage on Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 price target for the company. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $125.47 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The business’s 50 day moving average is $127.45 and its two-hundred day moving average is $130.48. The company has a market capitalization of $218.17 billion, a P/E ratio of 15.72, a P/E/G ratio of 2.29 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The business had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same period in the previous year, the business earned $1.21 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th were given a $0.59 dividend. The ex-dividend date 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 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.