North Star Asset Management Inc. Cuts Stock Position in Abbott Laboratories $ABT

North Star Asset Management Inc. lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 305,105 shares of the healthcare product maker’s stock after selling 3,407 shares during the period. Abbott Laboratories makes up about 1.8% of North Star Asset Management Inc.’s investment portfolio, making the stock its 11th largest holding. North Star Asset Management Inc.’s holdings in Abbott Laboratories were worth $41,497,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after buying an additional 4,755 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Abbott Laboratories in the 1st quarter worth approximately $245,000. Inspire Advisors LLC bought a new position in Abbott Laboratories in the 1st quarter valued at approximately $224,000. LPL Financial LLC boosted its stake in Abbott Laboratories by 10.1% during the 1st quarter. LPL Financial LLC now owns 1,776,882 shares of the healthcare product maker’s stock valued at $235,703,000 after purchasing an additional 162,282 shares during the last quarter. Finally, TCW Group Inc. increased its holdings in shares of Abbott Laboratories by 4.9% in the 1st quarter. TCW Group Inc. now owns 26,206 shares of the healthcare product maker’s stock worth $3,476,000 after purchasing an additional 1,218 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

NYSE ABT opened at $127.44 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The stock has a market cap of $221.61 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 2.36 and a beta of 0.68. The company’s 50 day moving average is $129.87 and its two-hundred day moving average is $131.14.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data 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. The firm had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, October 15th. Abbott Laboratories’s payout ratio is presently 29.57%.

Analyst Ratings Changes

Several research firms recently commented on ABT. Mizuho increased their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Barclays raised their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Benchmark began coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price objective for the company. Royal Bank Of Canada restated an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a research report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Company 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.