Abbott Laboratories $ABT Shares Bought by Jennison Associates LLC

Jennison Associates LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 42.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,667,555 shares of the healthcare product maker’s stock after purchasing an additional 801,164 shares during the period. Jennison Associates LLC’s holdings in Abbott Laboratories were worth $362,814,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Austin Private Wealth LLC grew its holdings in Abbott Laboratories by 11.5% in the second quarter. Austin Private Wealth LLC now owns 2,488 shares of the healthcare product maker’s stock valued at $338,000 after purchasing an additional 257 shares during the period. New York Life Investment Management LLC lifted its position in shares of Abbott Laboratories by 1.9% in the second quarter. New York Life Investment Management LLC now owns 240,455 shares of the healthcare product maker’s stock valued at $32,704,000 after acquiring an additional 4,494 shares in the last quarter. Howard Capital Management Inc. lifted its position in shares of Abbott Laboratories by 25.4% in the second quarter. Howard Capital Management Inc. now owns 12,973 shares of the healthcare product maker’s stock valued at $1,764,000 after acquiring an additional 2,625 shares in the last quarter. Reliant Investment Partners LLC lifted its position in shares of Abbott Laboratories by 1.6% in the second quarter. Reliant Investment Partners LLC now owns 5,951 shares of the healthcare product maker’s stock valued at $809,000 after acquiring an additional 94 shares in the last quarter. Finally, Purkiss Capital Advisors LLC purchased a new position in shares of Abbott Laboratories in the second quarter valued at approximately $230,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $126.63 on Wednesday. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The company has a market cap of $220.39 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 2.41 and a beta of 0.69. 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 business’s 50 day moving average price is $131.93 and its 200 day moving average price is $131.66.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. The firm had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ABT shares. Morgan Stanley raised their target price on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. 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 report on Thursday, October 16th. Mizuho raised their target price on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Raymond James Financial raised their target price on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Finally, Sanford C. Bernstein lifted 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. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by company insiders.

About Abbott Laboratories

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.