Northwest & Ethical Investments L.P. Sells 45,340 Shares of Abbott Laboratories $ABT

Northwest & Ethical Investments L.P. lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 37.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,098 shares of the healthcare product maker’s stock after selling 45,340 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Abbott Laboratories were worth $10,486,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ABT. Nuveen LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth about $1,658,180,000. Laurel Wealth Advisors LLC raised its holdings in Abbott Laboratories by 13,347.0% during the second quarter. Laurel Wealth Advisors LLC now owns 6,056,934 shares of the healthcare product maker’s stock worth $823,804,000 after acquiring an additional 6,011,891 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock valued at $2,120,516,000 after purchasing an additional 3,616,471 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Abbott Laboratories by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after buying an additional 3,371,113 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Abbott Laboratories by 1.8% in the second quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock valued at $23,502,644,000 after buying an additional 2,977,715 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABT. Raymond James Financial boosted their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 16th. BTIG Research reissued a “buy” rating and set a $145.00 target price on shares of Abbott Laboratories in a report on Thursday, November 20th. Evercore ISI cut their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Finally, The Goldman Sachs Group increased 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 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Trading Up 0.7%

ABT stock opened at $128.03 on Wednesday. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. 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 company’s 50-day simple moving average is $129.77 and its 200 day simple moving average is $131.10. The company has a market capitalization of $222.62 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the prior year, the business posted $1.21 EPS. 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. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current 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 dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 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.