Abbott Laboratories $ABT Shares Bought by Smith Salley Wealth Management

Smith Salley Wealth Management grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 187,603 shares of the healthcare product maker’s stock after purchasing an additional 5,525 shares during the period. Abbott Laboratories makes up about 1.3% of Smith Salley Wealth Management’s holdings, making the stock its 23rd largest position. Smith Salley Wealth Management’s holdings in Abbott Laboratories were worth $25,127,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in ABT. Vanguard Group Inc. grew its position in Abbott Laboratories by 1.8% during the second quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock worth $23,502,644,000 after buying an additional 2,977,715 shares during the period. State Street Corp grew its holdings in shares of Abbott Laboratories by 0.9% in the 2nd quarter. State Street Corp now owns 78,354,270 shares of the healthcare product maker’s stock worth $10,656,964,000 after acquiring an additional 689,517 shares during the period. Geode Capital Management LLC increased its stake in Abbott Laboratories by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 38,293,067 shares of the healthcare product maker’s stock valued at $5,184,589,000 after purchasing an additional 1,390,554 shares in the last quarter. Norges Bank acquired a new position in Abbott Laboratories during the second quarter worth $3,026,180,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Abbott Laboratories by 0.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 13,177,029 shares of the healthcare product maker’s stock worth $1,792,209,000 after purchasing an additional 68,613 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ABT shares. Raymond James Financial lifted their price target on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Abbott Laboratories in a research report on Monday. Evercore ISI lowered their price target on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. Mizuho lifted their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Finally, Barclays upped their target price on Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Two investment 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $125.83 on Wednesday. The business has a 50-day moving average of $126.11 and a two-hundred day moving average of $129.75. The firm has a market capitalization of $218.80 billion, a PE ratio of 15.77, a P/E/G ratio of 2.27 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share 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 analyst estimates of $11.40 billion. During the same quarter in the previous year, the business posted $1.21 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 15th will be paid a dividend of $0.63 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, January 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. Abbott Laboratories’s payout ratio is 29.57%.

Abbott Laboratories Company Profile

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.