Robeco Institutional Asset Management B.V. Reduces Holdings in Abbott Laboratories $ABT

by · The Markets Daily

Robeco Institutional Asset Management B.V. lowered its position in Abbott Laboratories (NYSE:ABT – Free Report) by 19.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 225,889 shares of the healthcare product maker’s stock after selling 54,396 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Abbott Laboratories were worth $30,256,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in Abbott Laboratories by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock valued at $23,502,644,000 after acquiring an additional 2,977,715 shares in the last quarter. State Street Corp increased its holdings in shares of Abbott Laboratories by 0.9% in the second quarter. State Street Corp now owns 78,354,270 shares of the healthcare product maker’s stock valued at $10,656,964,000 after purchasing an additional 689,517 shares during the last quarter. Geode Capital Management LLC lifted its position in Abbott Laboratories by 3.8% during the second quarter. Geode Capital Management LLC now owns 38,293,067 shares of the healthcare product maker’s stock worth $5,184,589,000 after buying an additional 1,390,554 shares in the last quarter. Norges Bank acquired a new position in Abbott Laboratories during the second quarter worth $3,026,180,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Abbott Laboratories by 0.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 13,177,029 shares of the healthcare product maker’s stock valued at $1,792,209,000 after buying an additional 68,613 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT opened at $127.06 on Thursday. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The stock has a 50-day simple moving average of $126.05 and a 200-day simple moving average of $129.49. The stock has a market capitalization of $220.94 billion, a PE ratio of 15.92, a PEG ratio of 2.12 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.24 and a current ratio of 1.70.

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

Abbott Laboratories Increases Dividend

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

Analyst Ratings Changes

Several research analysts have recently weighed in on ABT shares. Mizuho boosted their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, November 20th. BTIG Research reiterated a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a report on Thursday, November 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Abbott Laboratories in a research note on Monday, December 29th. Finally, The Goldman Sachs Group upped their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Two equities research 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.47.

Check Out Our Latest Research Report on ABT

Abbott Laboratories Profile

(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.

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