Ellevest Inc. Acquires 752 Shares of Abbott Laboratories $ABT

Ellevest Inc. boosted its holdings in Abbott Laboratories (NYSE:ABT) by 8.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 10,144 shares of the healthcare product maker’s stock after purchasing an additional 752 shares during the quarter. Ellevest Inc.’s holdings in Abbott Laboratories were worth $1,380,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ABT. Avanza Fonder AB increased its position in shares of Abbott Laboratories by 0.4% during the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after acquiring an additional 655 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Abbott Laboratories by 12.4% during the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock valued at $91,109,000 after acquiring an additional 73,780 shares during the last quarter. Madrona Financial Services LLC increased its position in shares of Abbott Laboratories by 9.7% during the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after acquiring an additional 152 shares during the last quarter. Atria Investments Inc raised its holdings in shares of Abbott Laboratories by 8.3% in the 2nd quarter. Atria Investments Inc now owns 184,269 shares of the healthcare product maker’s stock worth $25,062,000 after purchasing an additional 14,185 shares during the period. Finally, State of Michigan Retirement System raised its holdings in shares of Abbott Laboratories by 0.5% in the 2nd quarter. State of Michigan Retirement System now owns 473,057 shares of the healthcare product maker’s stock worth $64,340,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented 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 stock an “overweight” rating in a report on Friday, October 17th. Raymond James Financial lifted their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Daiwa Capital Markets lifted their price target on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Finally, Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Stock Up 1.6%

Abbott Laboratories stock opened at $125.78 on Wednesday. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The firm has a market capitalization of $218.71 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 2.36 and a beta of 0.68. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $131.17 and a 200 day simple moving average of $131.52.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same period in the previous year, the business earned $1.21 EPS. Abbott Laboratories’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, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s payout ratio is 29.57%.

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 shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by company insiders.

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.