Abbott Laboratories $ABT Stock Holdings Lifted by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC raised its position in Abbott Laboratories (NYSE:ABT) by 2.5% during the second quarter, HoldingsChannel.com reports. The firm owned 21,944 shares of the healthcare product maker’s stock after buying an additional 531 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $2,985,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth about $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth about $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories during the 1st quarter worth about $30,000. JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories during the 1st quarter worth about $32,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $6,862,453.65. This trade represents 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. 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. Jefferies Financial Group upped their price target on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company upped their price target on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday. Mizuho upped their price target on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 price target on shares of Abbott Laboratories in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.61.

Abbott Laboratories Stock Up 0.8%

ABT opened at $128.69 on Friday. The firm has a market cap of $223.98 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.44 and a beta of 0.69. 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’s 50-day simple moving average is $132.38 and its 200-day simple moving average is $131.54. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.30. The business had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be issued 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 dividend payout ratio (DPR) is currently 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.