Wealthstar Advisors LLC Decreases Position in Abbott Laboratories $ABT

by · The Markets Daily

Wealthstar Advisors LLC lessened its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 34.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,867 shares of the healthcare product maker’s stock after selling 3,564 shares during the period. Wealthstar Advisors LLC’s holdings in Abbott Laboratories were worth $934,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hughes Financial Services LLC purchased a new position in Abbott Laboratories in the 1st quarter valued at approximately $27,000. Abound Financial LLC purchased a new position in Abbott Laboratories in the 1st quarter valued at approximately $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories in the 1st quarter valued at approximately $30,000. JCIC Asset Management Inc. purchased a new position in Abbott Laboratories in the 1st quarter valued at approximately $32,000. Finally, Vision Financial Markets LLC purchased a new position in Abbott Laboratories in the 1st quarter valued at approximately $33,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of several recent research reports. 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 research report on Wednesday, July 16th. Royal Bank Of Canada lifted their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. The Goldman Sachs Group lifted their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. BTIG Research decreased their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Finally, Raymond James Financial decreased their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $146.24.

View Our Latest Research Report on Abbott Laboratories

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $133.24 on Friday. The company’s fifty day moving average price is $132.44 and its 200 day moving average price is $131.52. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The firm has a market capitalization of $231.90 billion, a P/E ratio of 16.70, a P/E/G ratio of 2.55 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm 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 earned $1.14 EPS. Abbott Laboratories’s revenue for the quarter 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. As a group, sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories 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 transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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.

See Also

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