Abbott Laboratories $ABT Shares Acquired by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 18.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 14,708 shares of the healthcare product maker’s stock after buying an additional 2,299 shares during the period. Ironwood Investment Counsel LLC’s holdings in Abbott Laboratories were worth $2,000,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IMG Wealth Management Inc. grew its stake in Abbott Laboratories by 759.1% in the second 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 in the last quarter. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at approximately $30,000. Vision Financial Markets LLC bought a new position in Abbott Laboratories during the first quarter worth $33,000. Accent Capital Management LLC bought a new stake in Abbott Laboratories during the first quarter valued at $38,000. Finally, Curio Wealth LLC raised its holdings in shares of Abbott Laboratories by 15,250.0% during the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after purchasing an additional 305 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.9%

Abbott Laboratories stock opened at $126.98 on Wednesday. The company’s 50-day moving average price is $130.56 and its two-hundred day moving average price is $131.37. The stock has a market cap of $220.80 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. 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 (NYSE:ABT) last posted its quarterly earnings data 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. The business had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid 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 yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ABT shares. Daiwa Capital Markets increased their price objective on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Royal Bank Of Canada restated an “outperform” rating and set a $147.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 16th. Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Benchmark started coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective on the stock. Finally, BTIG Research restated a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a research note on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

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.