Purkiss Capital Advisors LLC Takes Position in Abbott Laboratories $ABT

Purkiss Capital Advisors LLC bought a new stake in Abbott Laboratories (NYSE:ABT) during the second quarter, HoldingsChannel.com reports. The fund bought 1,693 shares of the healthcare product maker’s stock, valued at approximately $230,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after acquiring an additional 4,755 shares during the period. Joel Isaacson & Co. LLC lifted its holdings in Abbott Laboratories by 2.2% during the 1st quarter. Joel Isaacson & Co. LLC now owns 4,092 shares of the healthcare product maker’s stock valued at $543,000 after purchasing an additional 88 shares during the last quarter. Sovran Advisors LLC boosted its position in Abbott Laboratories by 23.6% during the first quarter. Sovran Advisors LLC now owns 8,279 shares of the healthcare product maker’s stock worth $1,084,000 after purchasing an additional 1,583 shares during the period. Root Financial Partners LLC raised its position in shares of Abbott Laboratories by 11.9% in the first quarter. Root Financial Partners LLC now owns 2,259 shares of the healthcare product maker’s stock valued at $300,000 after purchasing an additional 241 shares during the period. Finally, Avidian Wealth Enterprises LLC lifted its stake in shares of Abbott Laboratories by 3.9% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 9,036 shares of the healthcare product maker’s stock worth $1,199,000 after buying an additional 337 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABT. Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Raymond James Financial increased their target price on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a report on Thursday, October 16th. Morgan Stanley upped their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Finally, Jefferies Financial Group lifted their target price on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $127.16 on Tuesday. The business has a fifty day moving average price of $132.03 and a two-hundred day moving average price of $131.64. The stock has a market capitalization of $221.31 billion, a PE ratio of 15.93, a P/E/G ratio of 2.41 and a beta of 0.69. 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 fifty-two week low of $110.86 and a fifty-two week high of $141.23.

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

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is 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.