Elevation Point Wealth Partners LLC Buys 22,026 Shares of Abbott Laboratories $ABT

Elevation Point Wealth Partners LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 81.0% during the 1st quarter, Holdings Channel reports. The firm owned 49,215 shares of the healthcare product maker’s stock after buying an additional 22,026 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Abbott Laboratories were worth $5,053,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABT. Sharp Wealth Advisory LLC grew its holdings in Abbott Laboratories by 32.9% during the 1st quarter. Sharp Wealth Advisory LLC now owns 2,409 shares of the healthcare product maker’s stock worth $247,000 after acquiring an additional 596 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its stake in Abbott Laboratories by 53.4% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 25,143 shares of the healthcare product maker’s stock valued at $2,581,000 after buying an additional 8,749 shares during the period. Boston Trust Walden Corp boosted its holdings in Abbott Laboratories by 48.0% during the first quarter. Boston Trust Walden Corp now owns 70,256 shares of the healthcare product maker’s stock worth $7,213,000 after buying an additional 22,799 shares during the last quarter. Physician Wealth Advisors Inc. boosted its position in shares of Abbott Laboratories by 13.4% during the first quarter. Physician Wealth Advisors Inc. now owns 982 shares of the healthcare product maker’s stock worth $101,000 after purchasing an additional 116 shares in the last quarter. Finally, TSG Advice Partners LLC increased its position in shares of Abbott Laboratories by 28.0% during the first quarter. TSG Advice Partners LLC now owns 10,439 shares of the healthcare product maker’s stock worth $1,072,000 after acquiring an additional 2,282 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Bank of America lowered their target price on Abbott Laboratories from $120.00 to $102.00 in a research report on Friday, June 12th. Barclays decreased their price target on Abbott Laboratories from $144.00 to $143.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. Argus dropped their price objective on Abbott Laboratories from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. The Goldman Sachs Group cut their price objective on Abbott Laboratories from $121.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, Wells Fargo & Company decreased their target price on shares of Abbott Laboratories from $122.00 to $109.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $118.42.

Insider Buying and Selling

In other Abbott Laboratories news, Director Daniel J. Starks bought 10,000 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were bought at an average price of $92.65 per share, for a total transaction of $926,500.00. Following the acquisition, the director directly owned 6,751,103 shares of the company’s stock, valued at approximately $625,489,692.95. The trade was a 0.15% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Philip P. Boudreau acquired 2,200 shares of the company’s stock in a transaction on Thursday, April 23rd. The shares were bought at an average price of $91.50 per share, for a total transaction of $201,300.00. Following the completion of the purchase, the chief financial officer owned 2,200 shares in the company, valued at approximately $201,300. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Down 0.2%

Shares of NYSE:ABT opened at $95.25 on Friday. Abbott Laboratories has a 1 year low of $81.97 and a 1 year high of $137.49. The business’s 50 day simple moving average is $88.95 and its 200 day simple moving average is $104.35. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.39 and a quick ratio of 1.01. The company has a market capitalization of $165.91 billion, a P/E ratio of 26.68, a P/E/G ratio of 1.64 and a beta of 0.61.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.01. Abbott Laboratories had a return on equity of 17.62% and a net margin of 13.90%.The company had revenue of $11.16 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. Abbott Laboratories’s revenue was up 7.8% on a year-over-year basis. Abbott Laboratories has set its FY 2026 guidance at 5.380-5.580 EPS and its Q2 2026 guidance at 1.250-1.310 EPS. On average, research analysts anticipate that Abbott Laboratories will post 5.48 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.6%. Abbott Laboratories’s dividend payout ratio is presently 70.59%.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.