Accretive Wealth Partners LLC Increases Stock Holdings in Abbott Laboratories $ABT

Accretive Wealth Partners LLC lifted its position in Abbott Laboratories (NYSE:ABT) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,698 shares of the healthcare product maker’s stock after purchasing an additional 191 shares during the quarter. Accretive Wealth Partners LLC’s holdings in Abbott Laboratories were worth $2,135,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ABT. Avanza Fonder AB boosted its stake in Abbott Laboratories by 0.4% during the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after buying an additional 655 shares during the period. Madrona Financial Services LLC boosted its stake in Abbott Laboratories by 9.7% during the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock worth $235,000 after buying an additional 152 shares during the period. Janney Montgomery Scott LLC boosted its stake in Abbott Laboratories by 12.4% during the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock worth $91,109,000 after buying an additional 73,780 shares during the period. SageView Advisory Group LLC boosted its stake in Abbott Laboratories by 18.6% during the first quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker’s stock worth $2,427,000 after buying an additional 2,873 shares during the period. Finally, Cerity Partners LLC boosted its stake in Abbott Laboratories by 49.8% during the first quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker’s stock worth $199,939,000 after buying an additional 501,200 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Benchmark assumed coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They set a “buy” rating and a $145.00 target price for the company. The Goldman Sachs Group increased their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Royal Bank Of Canada reissued an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday. Wells Fargo & Company increased their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Evercore ISI reduced 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. Two 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.61.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction that occurred 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 owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Up 0.8%

Shares of NYSE:ABT opened at $128.69 on Monday. The firm’s 50 day moving average price is $132.38 and its 200 day moving average price is $131.54. The stock has a market cap of $223.98 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last issued 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. The firm had revenue of $11.37 billion for 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 17.78%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Abbott Laboratories Company Profile

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.