Abbott Laboratories $ABT Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 183,925 shares of the healthcare product maker’s stock after purchasing an additional 10,591 shares during the quarter. HB Wealth Management LLC’s holdings in Abbott Laboratories were worth $24,635,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in Abbott Laboratories in the 2nd quarter valued at about $3,026,180,000. Laurel Wealth Advisors LLC grew its stake in shares of Abbott Laboratories by 13,347.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,056,934 shares of the healthcare product maker’s stock valued at $823,804,000 after purchasing an additional 6,011,891 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 1.8% in the second quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock valued at $23,502,644,000 after purchasing an additional 2,977,715 shares during the period. First Trust Advisors LP raised its stake in shares of Abbott Laboratories by 180.7% during the second quarter. First Trust Advisors LP now owns 3,063,443 shares of the healthcare product maker’s stock worth $416,659,000 after purchasing an additional 1,972,097 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Abbott Laboratories by 98.6% during the second quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock worth $471,669,000 after purchasing an additional 1,721,523 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ABT shares. Raymond James Financial raised their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. The Goldman Sachs Group upped their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Wells Fargo & Company raised their target price on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Barclays boosted their target price on shares of Abbott Laboratories from $162.00 to $169.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Jefferies Financial Group increased 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. Two 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $147.47.

Abbott Laboratories Stock Performance

Shares of ABT opened at $127.06 on Thursday. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The stock has a market cap of $220.94 billion, a P/E ratio of 15.92, a PEG ratio of 2.12 and a beta of 0.72. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average of $126.05 and a two-hundred day moving average of $129.49.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $11.40 billion. During the same period last year, the company posted $1.21 EPS. The company’s 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 predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently disclosed 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. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, January 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 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.