DekaBank Deutsche Girozentrale Has $344.23 Million Holdings in Abbott Laboratories $ABT

Key Points

• DekaBank Deutsche Girozentrale reduced its holdings in Abbott Laboratories by 4.4%, now owning approximately 2.54 million shares valued at $344.23 million, making it the company's 28th largest position.
• Wall Street analysts have increased their price targets for Abbott Laboratories, with an average target of $147.61, supported by strong ratings including "overweight" and "strong-buy" from several firms.
• Abbott Laboratories declared a quarterly dividend of $0.59, which will be paid on November 17th, representing an annualized yield of 1.8% and a payout ratio of 29.57%.

DekaBank Deutsche Girozentrale cut its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 4.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,543,279 shares of the healthcare product maker's stock after selling 116,452 shares during the period. Abbott Laboratories makes up approximately 0.6% of DekaBank Deutsche Girozentrale's investment portfolio, making the stock its 28th largest position. DekaBank Deutsche Girozentrale owned about 0.15% of Abbott Laboratories worth $344,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Abbott Laboratories by 0.7% during the first quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker's stock worth $22,527,039,000 after purchasing an additional 1,177,739 shares during the period. Wellington Management Group LLP lifted its position in Abbott Laboratories by 12.8% during the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock worth $3,948,117,000 after purchasing an additional 3,371,113 shares during the period. Goldman Sachs Group Inc. lifted its position in Abbott Laboratories by 29.2% during the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock worth $2,120,516,000 after purchasing an additional 3,616,471 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Abbott Laboratories by 12.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker's stock worth $1,916,966,000 after purchasing an additional 1,639,954 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Abbott Laboratories by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker's stock worth $1,738,831,000 after purchasing an additional 168,095 shares during the period. Institutional investors own 75.18% of the company's stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an "overweight" rating in a research report on Thursday. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Sanford C. Bernstein increased their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday. Morgan Stanley increased their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $147.00 target price on shares of Abbott Laboratories in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $147.61.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $128.69 on Monday. The business has a 50 day moving average of $132.38 and a 200-day moving average of $131.54. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The company has a market capitalization of $223.98 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.44 and a beta of 0.69.

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, meeting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The firm's 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. On average, equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Insider Activity

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by corporate insiders.

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.

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