Clearstead Trust LLC Grows Stock Position in Abbott Laboratories $ABT

Clearstead Trust LLC raised its position in Abbott Laboratories (NYSE:ABT) by 25.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,835 shares of the healthcare product maker’s stock after acquiring an additional 2,593 shares during the quarter. Clearstead Trust LLC’s holdings in Abbott Laboratories were worth $1,746,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FF Advisors LLC boosted its position in Abbott Laboratories by 4.3% in 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 boosted its holdings in Abbott Laboratories by 0.6% in the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after purchasing an additional 79 shares during the last quarter. Bridgewater Advisors Inc. grew its stake in Abbott Laboratories by 0.6% during the 2nd quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock valued at $1,607,000 after purchasing an additional 79 shares in the last quarter. Opes Wealth Management LLC increased its holdings in Abbott Laboratories by 2.9% during the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock worth $379,000 after purchasing an additional 80 shares during the last quarter. Finally, Lcnb Corp raised its position in shares of Abbott Laboratories by 0.5% in the 1st quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker’s stock valued at $2,111,000 after purchasing an additional 80 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $129.16 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $130.42 and its two-hundred day moving average price is $131.34. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The stock has a market capitalization of $224.59 billion, a P/E ratio of 16.19, a P/E/G ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. The business 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%.The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories’s payout ratio is 29.57%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABT. Benchmark started coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 price target for the company. Daiwa Capital Markets upped their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. Jefferies Financial Group upped their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Finally, Barclays increased their target price on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Company 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.