Abbott Laboratories $ABT Stake Increased by Sumitomo Mitsui Trust Group Inc.

by · The Cerbat Gem

Sumitomo Mitsui Trust Group Inc. raised its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,190,759 shares of the healthcare product maker’s stock after acquiring an additional 52,220 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Abbott Laboratories were worth $561,310,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ABT. Carr Financial Group Corp lifted its holdings in shares of Abbott Laboratories by 2.0% in the 3rd quarter. Carr Financial Group Corp now owns 3,880 shares of the healthcare product maker’s stock worth $520,000 after purchasing an additional 76 shares during the last quarter. Tortoise Investment Management LLC boosted its stake in Abbott Laboratories by 10.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock valued at $108,000 after purchasing an additional 77 shares in the last quarter. Gemmer Asset Management LLC grew its holdings in Abbott Laboratories by 2.9% during the third quarter. Gemmer Asset Management LLC now owns 2,750 shares of the healthcare product maker’s stock worth $368,000 after acquiring an additional 78 shares during the period. FF Advisors LLC raised its holdings in shares of Abbott Laboratories by 4.3% in the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after purchasing an additional 79 shares in the last quarter. Finally, Charles Schwab Trust Co boosted its stake in shares of Abbott Laboratories by 0.6% during the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after acquiring an additional 79 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Sanford C. Bernstein increased their price target on Abbott Laboratories from $150.00 to $154.00 and gave the company an “outperform” rating in a research report on Friday. Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Benchmark initiated coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective for the company. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a report on Thursday, November 20th. Finally, BTIG Research reiterated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a report on Thursday, November 20th. Two equities 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 price target of $147.68.

Get Our Latest Stock Report on ABT

Abbott Laboratories Stock Down 0.2%

Shares of ABT stock opened at $125.95 on Monday. The company has a market capitalization of $219.00 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 2.09 and a beta of 0.72. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.24 and a current ratio of 1.70. The stock’s 50 day simple moving average is $126.13 and its 200 day simple moving average is $129.30.

Abbott Laboratories (NYSE:ABT – Get Free Report) last released its quarterly earnings results 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. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The company had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same period in the prior year, the company earned $1.21 earnings per share. The business’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. As a group, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, January 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, January 15th. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

About Abbott Laboratories

(Free Report)

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.

See Also

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT – Free Report).