Abbott Laboratories $ABT Shares Purchased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust raised its holdings in Abbott Laboratories (NYSE:ABT) by 63.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,385 shares of the healthcare product maker’s stock after purchasing an additional 11,411 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Abbott Laboratories were worth $3,997,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. IMG Wealth Management Inc. raised its stake in Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories in the first quarter valued at approximately $27,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories during the first quarter worth approximately $30,000. Vision Financial Markets LLC purchased a new position in Abbott Laboratories in the 1st quarter valued at $33,000. Finally, Accent Capital Management LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at $38,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ABT. Morgan Stanley raised their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Evercore ISI reduced their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Royal Bank Of Canada reiterated an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 16th. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Finally, Raymond James Financial lifted their price target on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note 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. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Stock Performance

NYSE ABT opened at $126.28 on Friday. The business has a 50 day moving average price of $130.78 and a 200 day moving average price of $131.40. The company has a market capitalization of $219.59 billion, a P/E ratio of 15.82, a PEG ratio of 2.36 and a beta of 0.68. 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 0.25, a current ratio of 1.82 and a quick ratio of 1.30.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the previous year, the business earned $1.21 earnings per share. Abbott Laboratories’s quarterly 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. Sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal 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 issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 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.