Mountain Capital Investment Advisors Inc. Takes $210,000 Position in Abbott Laboratories $ABT

Mountain Capital Investment Advisors Inc. bought a new position in Abbott Laboratories (NYSE:ABT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,539 shares of the healthcare product maker’s stock, valued at approximately $210,000.

Other hedge funds have also modified their holdings of the company. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at about $27,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth $28,000. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories in the first quarter worth about $30,000. JCIC Asset Management Inc. bought a new stake in Abbott Laboratories during the first quarter worth approximately $32,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $33,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a report on Thursday. Evercore ISI decreased their price objective on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Benchmark began coverage on Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 target price for the company. The Goldman Sachs Group raised their target price on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Finally, BTIG Research reiterated a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $147.61.

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 stock was sold at an average price of $134.55, for a total value 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 approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Up 0.8%

Shares of Abbott Laboratories stock opened at $128.69 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The business has a fifty day simple moving average of $132.38 and a 200 day simple moving average of $131.54. The stock has a market cap of $223.98 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69.

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 business had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. The firm’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. Research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm 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 $0.59 dividend. 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%.

Abbott Laboratories Profile

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.