Axxcess Wealth Management LLC Has $17.78 Million Stock Position in Abbott Laboratories $ABT

Axxcess Wealth Management LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,742 shares of the healthcare product maker’s stock after buying an additional 643 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Abbott Laboratories were worth $17,782,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Nuveen LLC purchased a new position in Abbott Laboratories during the first quarter worth about $1,658,180,000. Goldman Sachs Group Inc. raised its position in Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after acquiring an additional 3,616,471 shares during the period. Wellington Management Group LLP raised its position in Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after acquiring an additional 3,371,113 shares during the period. Massachusetts Financial Services Co. MA raised its position in Abbott Laboratories by 12.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock worth $1,916,966,000 after acquiring an additional 1,639,954 shares during the period. Finally, Jensen Investment Management Inc. raised its position in Abbott Laboratories by 1,221.2% in the first quarter. Jensen Investment Management Inc. now owns 1,365,785 shares of the healthcare product maker’s stock worth $181,171,000 after acquiring an additional 1,262,407 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

ABT stock opened at $131.52 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The stock has a market cap of $228.90 billion, a PE ratio of 16.48, a P/E/G ratio of 2.51 and a beta of 0.69. The firm has a 50 day simple moving average of $132.57 and a two-hundred day simple moving average of $131.60.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts’ consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the previous year, the company earned $1.14 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. 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, analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company 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 dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research firms have recently issued reports on ABT. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Mizuho boosted their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Jefferies Financial Group raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and boosted their price target for the company from $143.00 to $145.00 in a research report on Friday, July 18th. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $146.17.

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.