Resona Asset Management Co. Ltd. Purchases 52,802 Shares of Abbott Laboratories $ABT

Resona Asset Management Co. Ltd. lifted its position in Abbott Laboratories (NYSE:ABT) by 9.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 620,916 shares of the healthcare product maker’s stock after purchasing an additional 52,802 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Abbott Laboratories were worth $84,285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Atlantic Union Bankshares Corp grew its holdings in shares of Abbott Laboratories by 119.4% in the second quarter. Atlantic Union Bankshares Corp now owns 186,004 shares of the healthcare product maker’s stock worth $25,298,000 after purchasing an additional 101,220 shares during the last quarter. SP Asset Management LLC boosted its holdings in Abbott Laboratories by 8.3% in the second quarter. SP Asset Management LLC now owns 127,956 shares of the healthcare product maker’s stock valued at $17,403,000 after acquiring an additional 9,777 shares in the last quarter. Trillium Asset Management LLC boosted its holdings in Abbott Laboratories by 10.6% in the second quarter. Trillium Asset Management LLC now owns 6,771 shares of the healthcare product maker’s stock valued at $921,000 after acquiring an additional 651 shares in the last quarter. Blue Barn Wealth LLC boosted its holdings in Abbott Laboratories by 6.4% in the second quarter. Blue Barn Wealth LLC now owns 3,588 shares of the healthcare product maker’s stock valued at $488,000 after acquiring an additional 215 shares in the last quarter. Finally, Ellevest Inc. boosted its holdings in Abbott Laboratories by 8.0% in the second quarter. Ellevest Inc. now owns 10,144 shares of the healthcare product maker’s stock valued at $1,380,000 after acquiring an additional 752 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ABT. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. BTIG Research reiterated a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a report on Wednesday, October 15th. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Raymond James Financial lifted their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Barclays boosted their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $147.00.

Insider Transactions at Abbott Laboratories

In related 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 transaction, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $124.62 on Thursday. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The stock has a market cap of $216.70 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average price is $131.04 and its 200-day moving average price is $131.48.

Abbott Laboratories (NYSE:ABT) last announced 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 firm had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. Abbott Laboratories’s payout ratio is presently 29.57%.

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.