Norris Perne & French LLP MI Sells 5,318 Shares of Abbott Laboratories $ABT

Norris Perne & French LLP MI decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 2.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 215,141 shares of the healthcare product maker’s stock after selling 5,318 shares during the quarter. Abbott Laboratories accounts for 2.0% of Norris Perne & French LLP MI’s portfolio, making the stock its 16th largest holding. Norris Perne & French LLP MI’s holdings in Abbott Laboratories were worth $28,816,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ABT. Norges Bank bought a new stake in shares of Abbott Laboratories during the 2nd quarter worth approximately $3,026,180,000. Laurel Wealth Advisors LLC raised its position 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 valued at $823,804,000 after purchasing an additional 6,011,891 shares in the last quarter. Vanguard Group Inc. lifted its stake in Abbott Laboratories by 1.8% during the second quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock worth $23,502,644,000 after purchasing an additional 2,977,715 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Abbott Laboratories by 180.7% in the 2nd quarter. First Trust Advisors LP now owns 3,063,443 shares of the healthcare product maker’s stock valued at $416,659,000 after purchasing an additional 1,972,097 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of Abbott Laboratories by 98.6% in the 2nd quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock valued at $471,669,000 after purchasing an additional 1,721,523 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $124.74 on Monday. The business has a 50 day moving average of $126.25 and a 200-day moving average of $129.90. The company has a market capitalization of $216.91 billion, a P/E ratio of 15.63, a P/E/G ratio of 2.28 and a beta of 0.71. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24.

Abbott Laboratories (NYSE:ABT) last posted its earnings results 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 firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Sanford C. Bernstein upped their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Evercore ISI lowered their target price on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research note on Wednesday, October 15th. Mizuho raised their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Raymond James Financial increased their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Two equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.