TrueMark Investments LLC Purchases New Holdings in Abbott Laboratories $ABT

Key Points

• TrueMark Investments LLC has acquired a new stake in Abbott Laboratories, purchasing 11,904 shares valued at approximately $1.6 million during the second quarter.
• Analysts have raised their price targets for Abbott Laboratories, with Morgan Stanley increasing their target from $127 to $137 and Benchmark setting a new price target of $145.
• Abbott Laboratories announced a quarterly dividend of $0.59 per share, representing an annualized yield of 1.8%, scheduled for payout on November 17th.

TrueMark Investments LLC purchased a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,904 shares of the healthcare product maker's stock, valued at approximately $1,619,000.

Several other institutional investors have also recently added to or reduced their stakes in ABT. Mayflower Financial Advisors LLC lifted its position in Abbott Laboratories by 0.5% in the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock valued at $2,298,000 after purchasing an additional 78 shares during the period. FF Advisors LLC lifted its position in Abbott Laboratories by 4.3% in the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker's stock valued at $259,000 after purchasing an additional 79 shares during the period. Charles Schwab Trust Co lifted its position in Abbott Laboratories by 0.6% in the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker's stock valued at $1,907,000 after purchasing an additional 79 shares during the period. Opes Wealth Management LLC lifted its position in Abbott Laboratories by 2.9% in the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock valued at $379,000 after purchasing an additional 80 shares during the period. Finally, Lcnb Corp lifted its position in Abbott Laboratories by 0.5% in the first quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker's stock valued at $2,111,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Benchmark started coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They set a "buy" rating and a $145.00 price target for the company. 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 research report on Friday. BTIG Research reiterated a "buy" rating and set a $145.00 price target on shares of Abbott Laboratories in a research report on Wednesday. Finally, Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an "overweight" rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $147.61.

Abbott Laboratories Trading Up 0.8%

Shares of Abbott Laboratories stock opened at $128.69 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. 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. The business has a 50 day moving average price of $132.38 and a 200 day moving average price of $131.54.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued 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 return on equity of 17.78% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the previous year, the firm posted $1.21 EPS. The company's quarterly 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. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors 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 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories's payout ratio is currently 29.57%.

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer directly 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 owned by corporate insiders.

Abbott Laboratories Company 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.

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