Voya Investment Management LLC Lowers Stock Holdings in Abbott Laboratories $ABT

Voya Investment Management LLC reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 16.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 955,375 shares of the healthcare product maker’s stock after selling 181,504 shares during the period. Voya Investment Management LLC owned about 0.05% of Abbott Laboratories worth $127,963,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Avanza Fonder AB lifted its holdings in Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after buying an additional 655 shares during the last quarter. Seaview Investment Managers LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth about $11,068,000. Guggenheim Capital LLC lifted its stake in Abbott Laboratories by 13.5% during the second quarter. Guggenheim Capital LLC now owns 98,941 shares of the healthcare product maker’s stock worth $13,457,000 after purchasing an additional 11,794 shares during the last quarter. Atria Investments Inc boosted its holdings in Abbott Laboratories by 8.3% in the second quarter. Atria Investments Inc now owns 184,269 shares of the healthcare product maker’s stock valued at $25,062,000 after purchasing an additional 14,185 shares in the last quarter. Finally, Financial Management Professionals Inc. increased its stake in Abbott Laboratories by 715.7% in the second quarter. Financial Management Professionals Inc. now owns 6,142 shares of the healthcare product maker’s stock valued at $835,000 after purchasing an additional 5,389 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE ABT opened at $125.45 on Friday. The firm has a market cap of $218.13 billion, a P/E ratio of 15.72, a P/E/G ratio of 2.28 and a beta of 0.72. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The business’s 50-day moving average price is $126.77 and its 200 day moving average price is $130.27. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

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

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABT. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. BTIG Research restated a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a research note on Thursday, November 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Abbott Laboratories in a research report on Monday. Daiwa Capital Markets upped their target price on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Evercore ISI cut their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.