KCM Investment Advisors LLC Acquires 7,164 Shares of Abbott Laboratories $ABT

KCM Investment Advisors LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 5.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,946 shares of the healthcare product maker’s stock after buying an additional 7,164 shares during the period. KCM Investment Advisors LLC’s holdings in Abbott Laboratories were worth $19,986,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. IMG Wealth Management Inc. lifted its holdings in Abbott Laboratories by 759.1% in the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 167 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of Abbott Laboratories in the first quarter valued at approximately $27,000. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories in the first quarter worth $30,000. Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $33,000. Finally, Accent Capital Management LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at $38,000. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. The Goldman Sachs Group lifted their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Morgan Stanley increased their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $126.28 on Friday. The business has a 50 day simple moving average of $130.78 and a 200 day simple moving average of $131.40. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The company has a market capitalization of $219.59 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting 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 quarter last year, the company posted $1.21 EPS. The firm’s revenue for the quarter 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, sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend 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.