Solstein Capital LLC Acquires 301 Shares of Abbott Laboratories $ABT

Solstein Capital LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 184.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 464 shares of the healthcare product maker’s stock after buying an additional 301 shares during the period. Solstein Capital LLC’s holdings in Abbott Laboratories were worth $63,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. IMG Wealth Management Inc. lifted its stake in shares of Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 167 shares in the last quarter. Hughes Financial Services LLC bought a new position in shares of Abbott Laboratories in the first quarter worth approximately $27,000. Abound Financial LLC bought a new position in shares of Abbott Laboratories in the first quarter worth approximately $28,000. Elequin Capital LP bought a new position in shares of Abbott Laboratories in the first quarter worth approximately $30,000. Finally, Vision Financial Markets LLC bought a new position in shares of Abbott Laboratories in the first quarter worth approximately $33,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.3%

Shares of ABT stock opened at $126.78 on Monday. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The stock has a market cap of $220.65 billion, a P/E ratio of 15.89, a P/E/G ratio of 2.41 and a beta of 0.69. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The company has a 50 day simple moving average of $132.09 and a two-hundred day simple moving average of $131.64.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. 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 prior year, the company earned $1.21 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, research analysts expect that Abbott Laboratories will post 5.14 earnings per share 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 issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Sanford C. Bernstein upped their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Evercore ISI decreased their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Finally, Barclays boosted their price objective on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Insider Activity

In other 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 value 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 represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.

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.