Fifth Third Bancorp Raises Stake in Abbott Laboratories $ABT

Fifth Third Bancorp boosted its position in Abbott Laboratories (NYSE:ABT) by 3.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,326,375 shares of the healthcare product maker’s stock after purchasing an additional 46,097 shares during the period. Fifth Third Bancorp’s holdings in Abbott Laboratories were worth $180,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ABT. Hughes Financial Services LLC purchased a new stake in Abbott Laboratories in the 1st quarter worth approximately $27,000. Abound Financial LLC purchased a new stake in Abbott Laboratories in the 1st quarter worth approximately $28,000. Elequin Capital LP purchased a new stake in Abbott Laboratories in the 1st quarter worth approximately $30,000. JCIC Asset Management Inc. purchased a new stake in Abbott Laboratories in the 1st quarter worth approximately $32,000. Finally, Vision Financial Markets LLC purchased a new stake in Abbott Laboratories in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.6%

NYSE ABT opened at $135.82 on Wednesday. The business has a fifty day moving average price of $130.65 and a 200 day moving average price of $131.15. Abbott Laboratories has a one year low of $110.86 and a one year 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 has a market cap of $236.39 billion, a P/E ratio of 17.02, a P/E/G ratio of 2.59 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the company earned $1.14 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Analysts Set New Price Targets

ABT has been the topic of several recent research reports. BTIG Research lowered their price objective on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Morgan Stanley upped their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Mizuho upped their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Jefferies Financial Group raised Abbott Laboratories from a “hold” rating to a “buy” rating and upped their target price for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Finally, Evercore ISI upped their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.22.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

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.