Wealth Management Associates Inc. Purchases 330 Shares of Abbott Laboratories $ABT

Wealth Management Associates Inc. increased its position in shares of Abbott Laboratories (NYSE:ABT) by 9.6% in the second quarter, Holdings Channel reports. The institutional investor owned 3,757 shares of the healthcare product maker’s stock after buying an additional 330 shares during the period. Wealth Management Associates Inc.’s holdings in Abbott Laboratories were worth $511,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Avanza Fonder AB grew its holdings in shares of Abbott Laboratories by 0.4% during the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after buying an additional 655 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Abbott Laboratories by 12.4% during the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock valued at $91,109,000 after purchasing an additional 73,780 shares during the last quarter. Madrona Financial Services LLC boosted its position in Abbott Laboratories by 9.7% during the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after purchasing an additional 152 shares during the last quarter. SageView Advisory Group LLC boosted its position in Abbott Laboratories by 18.6% during the first quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker’s stock valued at $2,427,000 after purchasing an additional 2,873 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in Abbott Laboratories by 49.8% during the first quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker’s stock valued at $199,939,000 after purchasing an additional 501,200 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ABT. Wells Fargo & Company increased their price target on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Barclays increased their price target on Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. The Goldman Sachs Group increased their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Jefferies Financial Group increased their price target on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Mizuho increased their price target on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Two 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’s stock. According to data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Stock Performance

ABT opened at $126.63 on Wednesday. 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 $220.39 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 2.41 and a beta of 0.69. The business has a 50 day moving average of $131.93 and a 200-day moving average of $131.66. 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 (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The company had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same period last year, the firm posted $1.21 earnings per share. The business’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, equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company 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 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Insiders Place Their Bets

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 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 approximately $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 accessible through the SEC website. Insiders own 0.46% of the company’s stock.

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.