Atlantic Union Bankshares Corp Buys 101,220 Shares of Abbott Laboratories $ABT

Atlantic Union Bankshares Corp boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 119.4% during the second quarter, Holdings Channel.com reports. The fund owned 186,004 shares of the healthcare product maker’s stock after acquiring an additional 101,220 shares during the period. Atlantic Union Bankshares Corp’s holdings in Abbott Laboratories were worth $25,298,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. IMG Wealth Management Inc. boosted its holdings in shares of Abbott Laboratories by 759.1% in the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 167 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at $27,000. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at $30,000. Vision Financial Markets LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at $33,000. Finally, Accent Capital Management LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at $38,000. Institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction dated 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 in the company, 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 SEC, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ABT shares. BTIG Research reaffirmed a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a report on Wednesday, October 15th. Wells Fargo & Company raised their target price on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Daiwa Capital Markets boosted their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Finally, The Goldman Sachs Group boosted their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Trading Down 0.9%

NYSE ABT opened at $124.62 on Thursday. The business’s 50-day moving average price is $131.04 and its two-hundred day moving average price is $131.48. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The firm has a market capitalization of $216.70 billion, a PE 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.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the previous year, the company posted $1.21 EPS. The business’s 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. On average, analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given 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 is Wednesday, October 15th. Abbott Laboratories’s payout ratio is 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.