Abbott Laboratories $ABT Shares Bought by Genesis Private Wealth LLC

Genesis Private Wealth LLC raised its stake in Abbott Laboratories (NYSE:ABT) by 4.2% during the second quarter, Holdings Channel reports. The firm owned 2,622 shares of the healthcare product maker’s stock after purchasing an additional 105 shares during the period. Genesis Private Wealth LLC’s holdings in Abbott Laboratories were worth $357,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ABT. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at $27,000. Abound Financial LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at $28,000. Elequin Capital LP purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at $30,000. JCIC Asset Management Inc. purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at $32,000. Finally, Vision Financial Markets LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Royal Bank Of Canada boosted their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Evercore ISI boosted their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Finally, Mizuho increased their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $145.22.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business’s 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 completion of the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, 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 SEC, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

Abbott Laboratories Trading Up 0.2%

NYSE ABT opened at $133.62 on Monday. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The company has a 50-day simple moving average of $131.14 and a 200-day simple moving average of $131.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The firm has a market capitalization of $232.56 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 2.53 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.26. The firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. Abbott Laboratories’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.14 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s payout ratio is presently 29.57%.

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.