Rede Wealth LLC Buys New Shares in Abbott Laboratories $ABT

Rede Wealth LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,208 shares of the healthcare product maker’s stock, valued at approximately $1,099,000. Abbott Laboratories comprises about 0.9% of Rede Wealth LLC’s investment portfolio, making the stock its 28th largest holding.

Other institutional investors have also recently made changes to their positions in the company. Carr Financial Group Corp grew its stake in shares of Abbott Laboratories by 2.0% in the third quarter. Carr Financial Group Corp now owns 3,880 shares of the healthcare product maker’s stock valued at $520,000 after buying an additional 76 shares in the last quarter. Tortoise Investment Management LLC raised its position in Abbott Laboratories by 10.7% during the second quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock worth $108,000 after acquiring an additional 77 shares in the last quarter. Gemmer Asset Management LLC lifted its stake in Abbott Laboratories by 2.9% in the third quarter. Gemmer Asset Management LLC now owns 2,750 shares of the healthcare product maker’s stock valued at $368,000 after acquiring an additional 78 shares during the last quarter. FF Advisors LLC grew its position in shares of 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 acquiring an additional 79 shares during the period. Finally, Charles Schwab Trust Co increased its stake in shares of Abbott Laboratories by 0.6% during the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a report on Thursday, October 16th. Mizuho lifted their target price on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Daiwa Capital Markets increased their price target on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Sanford C. Bernstein lifted their price objective 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. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Abbott Laboratories in a research report on Monday, December 22nd. Two 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Stock Down 0.1%

ABT stock opened at $124.74 on Friday. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. The stock has a market capitalization of $216.91 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 2.28 and a beta of 0.72. The business’s fifty day moving average price is $126.25 and its two-hundred day moving average price is $129.94.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 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 17.60%. The business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the company posted $1.21 earnings per share. Abbott Laboratories’s revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, January 15th will be given a $0.63 dividend. The ex-dividend date is Thursday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.