Greenleaf Trust Decreases Stake in Abbott Laboratories $ABT

Greenleaf Trust decreased its holdings in Abbott Laboratories (NYSE:ABT) by 14.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 74,944 shares of the healthcare product maker’s stock after selling 13,014 shares during the period. Greenleaf Trust’s holdings in Abbott Laboratories were worth $10,038,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Abbott Laboratories by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock valued at $23,502,644,000 after acquiring an additional 2,977,715 shares in the last quarter. State Street Corp raised its position in Abbott Laboratories by 0.9% in the second quarter. State Street Corp now owns 78,354,270 shares of the healthcare product maker’s stock valued at $10,656,964,000 after purchasing an additional 689,517 shares during the period. Geode Capital Management LLC lifted its stake in shares of Abbott Laboratories by 3.8% during the second quarter. Geode Capital Management LLC now owns 38,293,067 shares of the healthcare product maker’s stock worth $5,184,589,000 after purchasing an additional 1,390,554 shares in the last quarter. Norges Bank purchased a new stake in shares of Abbott Laboratories in the second quarter worth about $3,026,180,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Abbott Laboratories by 0.5% in 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 in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $126.43 on Tuesday. The stock has a market capitalization of $219.84 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 2.06 and a beta of 0.72. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The company’s 50-day simple moving average is $125.97 and its 200-day simple moving average is $129.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.24 and a current ratio of 1.70.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data 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 firm had revenue of $11.37 billion for 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%.Abbott Laboratories’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Mizuho upped their price target on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Benchmark initiated coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 target price for the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a report on Thursday, October 16th. The Goldman Sachs Group boosted their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, Wells Fargo & Company raised their target price on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Two 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.37.

About Abbott Laboratories

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.