Abbott Laboratories $ABT Holdings Raised by Naviter Wealth LLC

by · The Markets Daily

Naviter Wealth LLC boosted its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,436 shares of the healthcare product maker’s stock after buying an additional 462 shares during the quarter. Naviter Wealth LLC’s holdings in Abbott Laboratories were worth $3,460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Brighton Jones LLC raised its holdings in shares of Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after purchasing an additional 4,755 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Abbott Laboratories by 17.0% during the 1st quarter. GAMMA Investing LLC now owns 38,467 shares of the healthcare product maker’s stock valued at $5,103,000 after purchasing an additional 5,590 shares in the last quarter. Atlas Private Wealth Advisors bought a new position in shares of Abbott Laboratories during the 1st quarter valued at $224,000. Traphagen Investment Advisors LLC raised its holdings in shares of Abbott Laboratories by 2.9% during the 1st quarter. Traphagen Investment Advisors LLC now owns 4,426 shares of the healthcare product maker’s stock valued at $587,000 after purchasing an additional 126 shares in the last quarter. Finally, Hanson & Doremus Investment Management raised its holdings in shares of Abbott Laboratories by 97.3% during the 1st quarter. Hanson & Doremus Investment Management now owns 25,398 shares of the healthcare product maker’s stock valued at $3,369,000 after purchasing an additional 12,522 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $131.52 on Tuesday. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The firm’s fifty day simple moving average is $132.57 and its 200 day simple moving average is $131.60. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $228.90 billion, a PE ratio of 16.48, a PEG ratio of 2.51 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period last year, the business posted $1.14 EPS. Abbott Laboratories’s revenue 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. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ABT. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Royal Bank Of Canada raised their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Mizuho raised their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Finally, Jefferies Financial Group upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and raised their target price for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $146.17.

Get Our Latest Research Report on Abbott Laboratories

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.46% of the stock is owned by corporate insiders.

About Abbott Laboratories

(Free Report)

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.

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