Grove Bank & Trust Has $4.48 Million Stock Position in Abbott Laboratories $ABT

Grove Bank & Trust cut its position in Abbott Laboratories (NYSE:ABT) by 16.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,477 shares of the healthcare product maker’s stock after selling 6,741 shares during the quarter. Grove Bank & Trust’s holdings in Abbott Laboratories were worth $4,484,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. IMG Wealth Management Inc. increased its position in Abbott Laboratories by 759.1% in the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 167 shares during the period. Elequin Capital LP bought a new position in Abbott Laboratories during the first quarter worth $30,000. Anfield Capital Management LLC raised its stake in Abbott Laboratories by 81.3% during the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Delos Wealth Advisors LLC bought a new stake in Abbott Laboratories in the 2nd quarter valued at $32,000. Finally, Curio Wealth LLC grew its position in Abbott Laboratories by 15,250.0% in the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after purchasing an additional 305 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Up 2.5%

Shares of NYSE:ABT opened at $128.58 on Tuesday. The company’s fifty day moving average is $127.35 and its 200-day moving average is $130.44. 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 has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a market capitalization of $223.58 billion, a PE ratio of 16.11, a P/E/G ratio of 2.29 and a beta of 0.71.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 net margin of 31.88% and a return on equity of 17.60%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm 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 dividend of $0.63 per share. 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 dividend on an annualized basis and a yield of 2.0%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Analyst Upgrades and Downgrades

Several research firms have commented on ABT. BTIG Research reaffirmed a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a report on Thursday, November 20th. Benchmark began coverage on Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 target price for the company. The Goldman Sachs Group boosted their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday, December 8th. Finally, Barclays upped their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Two investment 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Profile

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.