Mount Lucas Management LP Acquires Shares of 10,221 Abbott Laboratories $ABT

Mount Lucas Management LP bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,221 shares of the healthcare product maker’s stock, valued at approximately $1,390,000.

Several other large investors also recently modified their holdings of ABT. Tortoise Investment Management LLC lifted its holdings in shares of Abbott Laboratories by 10.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock worth $108,000 after acquiring an additional 77 shares during the period. FF Advisors LLC raised its position in Abbott Laboratories by 4.3% during the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock valued at $259,000 after purchasing an additional 79 shares in the last quarter. Charles Schwab Trust Co lifted its stake in Abbott Laboratories by 0.6% during the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after purchasing an additional 79 shares during the last quarter. Bridgewater Advisors Inc. boosted its holdings in shares of Abbott Laboratories by 0.6% in the 2nd quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock valued at $1,607,000 after purchasing an additional 79 shares in the last quarter. Finally, Opes Wealth Management LLC raised its holdings in shares of Abbott Laboratories by 2.9% during the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock worth $379,000 after buying an additional 80 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $130.59 on Monday. The stock’s 50 day moving average price is $130.38 and its 200-day moving average price is $131.36. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The company has a market capitalization of $227.08 billion, a PE ratio of 16.36, a PEG ratio of 2.36 and a beta of 0.68.

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, meeting analysts’ consensus estimates of $1.30. The firm had revenue of $11.37 billion during 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 business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current 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 given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ABT shares. Jefferies Financial Group boosted their target price on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Raymond James Financial lifted their target price on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. The Goldman Sachs Group boosted their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Mizuho increased their price target on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Finally, Daiwa Capital Markets raised their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $147.00.

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.