Mcrae Capital Management Inc. Has $544,000 Holdings in Abbott Laboratories $ABT

Mcrae Capital Management Inc. decreased its holdings in Abbott Laboratories (NYSE:ABT) by 35.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 4,000 shares of the healthcare product maker’s stock after selling 2,212 shares during the quarter. Mcrae Capital Management Inc.’s holdings in Abbott Laboratories were worth $544,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABT. Mayflower Financial Advisors LLC grew its holdings in Abbott Laboratories by 0.5% during the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock valued at $2,298,000 after purchasing an additional 78 shares during the period. FF Advisors LLC lifted its position in shares of Abbott Laboratories by 4.3% during the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock valued at $259,000 after buying an additional 79 shares during the last quarter. Charles Schwab Trust Co increased its holdings in Abbott Laboratories by 0.6% in the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after acquiring an additional 79 shares during the last quarter. Bridgewater Advisors Inc. grew its position in Abbott Laboratories by 0.6% during the second quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock worth $1,607,000 after buying an additional 79 shares in the last quarter. Finally, Opes Wealth Management LLC increased its stake in Abbott Laboratories by 2.9% in the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock worth $379,000 after acquiring an additional 80 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

ABT stock opened at $124.91 on Friday. The firm has a market cap of $217.20 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.36 and a beta of 0.68. The firm’s fifty day moving average is $130.91 and its 200 day moving average is $131.43. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analyst estimates of $11.40 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The company’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. Research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ABT shares. Mizuho lifted 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. Sanford C. Bernstein boosted their price target 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. Raymond James Financial increased their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Evercore ISI cut their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

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.