HORAN Wealth LLC Takes $4.41 Million Position in Abbott Laboratories $ABT

HORAN Wealth LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, HoldingsChannel reports. The institutional investor bought 32,387 shares of the healthcare product maker’s stock, valued at approximately $4,405,000. Abbott Laboratories comprises 1.3% of HORAN Wealth LLC’s portfolio, making the stock its 20th biggest position.

A number of other hedge funds have also recently bought and sold shares of the company. SouthState Corp grew its holdings in Abbott Laboratories by 2.7% during the second quarter. SouthState Corp now owns 55,407 shares of the healthcare product maker’s stock worth $7,536,000 after acquiring an additional 1,471 shares during the period. Horan Securities Inc. grew its holdings in Abbott Laboratories by 6.5% during the second quarter. Horan Securities Inc. now owns 4,246 shares of the healthcare product maker’s stock worth $577,000 after acquiring an additional 258 shares during the period. Ethos Financial Group LLC grew its holdings in Abbott Laboratories by 4.1% during the second quarter. Ethos Financial Group LLC now owns 3,228 shares of the healthcare product maker’s stock worth $439,000 after acquiring an additional 127 shares during the period. Brooktree Capital Management acquired a new position in Abbott Laboratories during the second quarter worth about $694,000. Finally, Resona Asset Management Co. Ltd. grew its holdings in Abbott Laboratories by 9.3% during the second quarter. Resona Asset Management Co. Ltd. now owns 620,916 shares of the healthcare product maker’s stock worth $84,285,000 after acquiring an additional 52,802 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports 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 report on Tuesday, July 15th. The Goldman Sachs Group lifted their price target on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Benchmark initiated coverage on Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 price target on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $147.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 16th. Finally, Wells Fargo & Company lifted their price target on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Trading Down 0.9%

Shares of NYSE ABT opened at $124.62 on Thursday. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The firm has a market capitalization of $216.70 billion, a PE ratio of 15.62, a PEG 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 business has a 50-day moving average price of $131.04 and a two-hundred day moving average price of $131.48.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 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 firm had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same period last year, the company posted $1.21 EPS. The business’s quarterly 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. As a group, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Insider Buying and Selling

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

About Abbott Laboratories

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.