Abbott Laboratories $ABT Shares Acquired by SP Asset Management LLC

SP Asset Management LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 127,956 shares of the healthcare product maker’s stock after purchasing an additional 9,777 shares during the quarter. Abbott Laboratories comprises about 1.4% of SP Asset Management LLC’s investment portfolio, making the stock its 19th largest position. SP Asset Management LLC’s holdings in Abbott Laboratories were worth $17,403,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mayflower Financial Advisors LLC grew its stake in shares of Abbott Laboratories by 0.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock worth $2,298,000 after purchasing an additional 78 shares during the period. FF Advisors LLC grew its stake in Abbott Laboratories by 4.3% in the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock valued at $259,000 after acquiring an additional 79 shares during the last quarter. Charles Schwab Trust Co grew its stake in Abbott Laboratories by 0.6% in the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after acquiring an additional 79 shares during the last quarter. Bridgewater Advisors Inc. grew its stake in Abbott Laboratories by 0.6% in the 2nd quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock valued at $1,607,000 after acquiring an additional 79 shares during the last quarter. Finally, Opes Wealth Management LLC grew its stake in Abbott Laboratories by 2.9% in the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock valued at $379,000 after acquiring an additional 80 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the topic of a number of research reports. Evercore ISI lowered their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. The Goldman Sachs Group increased their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note 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 note on Thursday, October 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 16th. Finally, Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Two 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the 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 transaction, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Price Performance

NYSE:ABT opened at $124.62 on Thursday. The firm has a market cap of $216.70 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth 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 company’s 50-day moving average is $131.04 and its two-hundred day moving average is $131.48. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. The company had revenue of $11.37 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued 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 is presently 29.57%.

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.