Private Wealth Group LLC Takes $204,000 Position in Abbott Laboratories $ABT

Private Wealth Group LLC acquired a new stake in shares of Abbott Laboratories (NYSE:ABT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,499 shares of the healthcare product maker’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kelly Financial Services LLC bought a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $216,000. Edge Financial Advisors LLC boosted its position in shares of Abbott Laboratories by 3.3% during the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker’s stock valued at $336,000 after buying an additional 81 shares during the last quarter. Avanza Fonder AB boosted its position 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 valued at $22,904,000 after buying an additional 655 shares during the last quarter. Madrona Financial Services LLC boosted its position in shares of 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 buying an additional 152 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of 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 buying an additional 73,780 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction 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 transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Up 1.1%

ABT stock opened at $134.49 on Friday. The stock’s fifty day simple moving average is $131.94 and its two-hundred day simple moving average is $131.36. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The stock has a market cap of $234.07 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.55 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts’ consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Analysts expect that Abbott Laboratories will post 5.14 EPS 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 given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ABT. Wells Fargo & Company cut their target price on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Leerink Partnrs raised Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Leerink Partners began coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 target price on the stock. Evercore ISI boosted their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Finally, William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.39.

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.