Sage Mountain Advisors LLC Increases Stock Holdings in Abbott Laboratories $ABT

Sage Mountain Advisors LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 7.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 16,334 shares of the healthcare product maker’s stock after acquiring an additional 1,102 shares during the period. Sage Mountain Advisors LLC’s holdings in Abbott Laboratories were worth $2,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Avanza Fonder AB increased its holdings in Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after purchasing an additional 655 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Abbott Laboratories by 12.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock worth $91,109,000 after purchasing an additional 73,780 shares during the last quarter. Madrona Financial Services LLC increased its holdings in Abbott Laboratories by 9.7% during the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock worth $235,000 after purchasing an additional 152 shares during the last quarter. SageView Advisory Group LLC increased its holdings in Abbott Laboratories by 18.6% during the 1st quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker’s stock worth $2,427,000 after purchasing an additional 2,873 shares during the last quarter. Finally, Cerity Partners LLC grew its position in shares of Abbott Laboratories by 49.8% in the 1st quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker’s stock worth $199,939,000 after acquiring an additional 501,200 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Up 0.3%

Shares of ABT stock opened at $126.78 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The stock has a fifty day moving average of $132.09 and a two-hundred day moving average of $131.55. The firm has a market capitalization of $220.65 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 2.40 and a beta of 0.69.

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, hitting analysts’ consensus estimates 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 analyst estimates of $11.40 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley lifted their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Daiwa Capital Markets lifted their target price on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday. Mizuho boosted their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Evercore ISI reduced their price objective on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Finally, The Goldman Sachs Group boosted 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. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.