Facet Wealth Inc. Grows Position in Abbott Laboratories $ABT

Facet Wealth Inc. grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 39.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,387 shares of the healthcare product maker’s stock after buying an additional 680 shares during the quarter. Facet Wealth Inc.’s holdings in Abbott Laboratories were worth $301,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in Abbott Laboratories by 1.3% during the second quarter. Bessemer Group Inc. now owns 1,200,746 shares of the healthcare product maker’s stock worth $163,312,000 after acquiring an additional 15,650 shares during the last quarter. CCLA Investment Management increased its position in shares of Abbott Laboratories by 6.9% in the second quarter. CCLA Investment Management now owns 873,912 shares of the healthcare product maker’s stock worth $118,808,336,000 after acquiring an additional 56,674 shares in the last quarter. Yukon Wealth Management Inc. acquired a new stake in shares of Abbott Laboratories in the second quarter worth $210,000. Ashton Thomas Private Wealth LLC increased its position in shares of Abbott Laboratories by 5.0% in the second quarter. Ashton Thomas Private Wealth LLC now owns 50,274 shares of the healthcare product maker’s stock worth $6,838,000 after acquiring an additional 2,390 shares in the last quarter. Finally, Solstein Capital LLC increased its position in shares of Abbott Laboratories by 184.7% in the second quarter. Solstein Capital LLC now owns 464 shares of the healthcare product maker’s stock worth $63,000 after acquiring an additional 301 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley increased their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Jefferies Financial Group increased their target price on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Sanford C. Bernstein increased their target price on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Evercore ISI lowered their price objective on shares of 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, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 16th. Two investment 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 stock presently has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $127.16 on Tuesday. The firm has a market cap of $221.31 billion, a P/E ratio of 15.93, a P/E/G ratio of 2.41 and a beta of 0.69. 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 firm has a fifty day moving average of $132.03 and a two-hundred day moving average of $131.64.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates 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 return on equity of 17.78% and a net margin of 31.88%.The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company 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 $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Insider Activity at Abbott Laboratories

In other 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 value of $746,752.50. Following the completion of the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

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.