Ethic Inc. Grows Stock Holdings in Abbott Laboratories $ABT

Key Points

• Ethic Inc. increased its stake in Abbott Laboratories by 6.8% in Q2, now owning 233,182 shares valued at approximately $31.3 million, making it the 20th largest position in its portfolio.
• Several institutional investors, including IMG Wealth Management Inc., have significantly raised their positions in Abbott, with institutional ownership now at 75.18% of the company's stock.
• A consensus analysis shows Abbott Laboratories holds a "Moderate Buy" rating with a price target averaging $147.00, while recent quarterly earnings matched expectations at $1.30 EPS on $11.37 billion in revenue.

Ethic Inc. raised its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 6.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 233,182 shares of the healthcare product maker's stock after buying an additional 14,759 shares during the period. Abbott Laboratories comprises approximately 0.6% of Ethic Inc.'s holdings, making the stock its 20th largest position. Ethic Inc.'s holdings in Abbott Laboratories were worth $31,335,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. IMG Wealth Management Inc. raised its position in Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker's stock worth $26,000 after acquiring an additional 167 shares during the period. Hughes Financial Services LLC purchased a new stake in Abbott Laboratories in the 1st quarter worth $27,000. Abound Financial LLC purchased a new position in shares of Abbott Laboratories in the first quarter valued at about $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories during the first quarter worth about $30,000. Finally, JCIC Asset Management Inc. bought a new stake in Abbott Laboratories during the 1st quarter valued at approximately $32,000. Institutional investors own 75.18% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. Barclays lifted their price target 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. The Goldman Sachs Group raised their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the company a "buy" rating in a research report on Wednesday, October 1st. Wells Fargo & Company increased their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an "overweight" rating in a research report on Thursday, October 16th. Finally, William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.

Abbott Laboratories Price Performance

ABT stock opened at $127.23 on Wednesday. The stock has a market cap of $221.44 billion, a PE ratio of 15.94, a P/E/G ratio of 2.46 and a beta of 0.69. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company has a 50-day moving average price of $132.28 and a 200 day moving average price of $131.54. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced 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. The business 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 17.78%. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

Insider Activity at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction dated 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 in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.46% of the company's stock.

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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