Invesco Ltd. Buys 895,333 Shares of Abbott Laboratories $ABT

by · The Cerbat Gem

Invesco Ltd. lifted its stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 10.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 9,238,772 shares of the healthcare product maker’s stock after acquiring an additional 895,333 shares during the period. Invesco Ltd.’s holdings in Abbott Laboratories were worth $1,256,565,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Abbott Laboratories during the 2nd quarter valued at about $3,026,180,000. Nuveen LLC bought a new position in Abbott Laboratories during the first quarter valued at approximately $1,658,180,000. Laurel Wealth Advisors LLC raised its stake in shares of Abbott Laboratories by 13,347.0% during the second quarter. Laurel Wealth Advisors LLC now owns 6,056,934 shares of the healthcare product maker’s stock worth $823,804,000 after acquiring an additional 6,011,891 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Abbott Laboratories by 29.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock valued at $2,120,516,000 after purchasing an additional 3,616,471 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Abbott Laboratories by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after purchasing an additional 3,371,113 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ABT shares. Sanford C. Bernstein boosted their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Daiwa Capital Markets boosted their target price on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. BTIG Research restated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research report on Thursday, November 20th. Mizuho boosted 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. Finally, The Goldman Sachs Group raised their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Read Our Latest Report on Abbott Laboratories

Abbott Laboratories Stock Performance

Shares of ABT opened at $126.31 on Wednesday. The company has a 50-day simple moving average of $129.04 and a two-hundred day simple moving average of $130.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. The firm has a market capitalization of $219.63 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 2.33 and a beta of 0.72. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT – Get Free Report) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. The company had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Abbott Laboratories Company Profile

(Free Report)

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.

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