Stonebridge Wealth Management LLC Invests $982,000 in Abbott Laboratories $ABT

by · The Markets Daily

Stonebridge Wealth Management LLC bought a new stake in Abbott Laboratories (NYSE:ABT – Free Report) in the second quarter, Holdings Channel reports. The institutional investor bought 7,222 shares of the healthcare product maker’s stock, valued at approximately $982,000. Abbott Laboratories accounts for approximately 0.9% of Stonebridge Wealth Management LLC’s portfolio, making the stock its 22nd largest holding.

A number of other institutional investors have also recently bought and sold shares of ABT. Norges Bank bought a new stake in Abbott Laboratories in the second quarter valued at about $3,026,180,000. Laurel Wealth Advisors LLC boosted its holdings in Abbott Laboratories by 13,347.0% during the second 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 in the last quarter. Wellington Management Group LLP grew its stake in shares of Abbott Laboratories by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after purchasing an additional 3,371,113 shares during the period. Vanguard Group Inc. raised its holdings in shares of Abbott Laboratories by 1.8% in the 2nd 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 in the last quarter. Finally, First Trust Advisors LP boosted its stake in Abbott Laboratories by 180.7% in the 2nd quarter. First Trust Advisors LP now owns 3,063,443 shares of the healthcare product maker’s stock valued at $416,659,000 after buying an additional 1,972,097 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $125.47 on Friday. 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 firm has a market capitalization of $218.17 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 2.29 and a beta of 0.72. The firm’s 50 day moving average is $127.45 and its 200-day moving average is $130.48. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting the consensus estimate of $1.30. The firm 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 17.60%. Abbott Laboratories’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, October 15th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. The Goldman Sachs Group lifted their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Sanford C. Bernstein upped their price objective on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Benchmark started coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 target price for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Abbott Laboratories in a research report on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Check Out Our Latest Analysis on ABT

Abbott Laboratories Company Profile

(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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