TrueMark Investments LLC Makes New Investment in Abbott Laboratories $ABT

TrueMark Investments LLC bought a new position in Abbott Laboratories (NYSE:ABT) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 11,904 shares of the healthcare product maker’s stock, valued at approximately $1,619,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mayflower Financial Advisors LLC boosted its holdings in Abbott Laboratories by 0.5% in the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock valued at $2,298,000 after acquiring an additional 78 shares during the last quarter. FF Advisors LLC boosted its holdings in Abbott Laboratories by 4.3% in the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock valued at $259,000 after acquiring an additional 79 shares during the last quarter. Charles Schwab Trust Co boosted its holdings in Abbott Laboratories by 0.6% in the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after acquiring an additional 79 shares during the last quarter. Opes Wealth Management LLC boosted its holdings in Abbott Laboratories by 2.9% in the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock valued at $379,000 after acquiring an additional 80 shares during the last quarter. Finally, Lcnb Corp grew its stake in Abbott Laboratories by 0.5% during the first quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker’s stock worth $2,111,000 after buying an additional 80 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABT has been the topic of several recent research reports. Raymond James Financial lifted their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday. Mizuho upped their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Benchmark began coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 price target for the company. Jefferies Financial Group upped their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Barclays upped their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.61.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $128.69 on Friday. Abbott Laboratories has a 12 month low of $110.86 and a 12 month 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. The firm has a market capitalization of $223.98 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.44 and a beta of 0.69. The company’s fifty day moving average price is $132.38 and its two-hundred day moving average price is $131.54.

Abbott Laboratories (NYSE:ABT) last issued 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. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the previous year, the business posted $1.21 EPS. The firm’s 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. On average, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is 29.57%.

Insider Activity

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

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.