Modern Wealth Management LLC Buys 4,136 Shares of Abbott Laboratories $ABT

Modern Wealth Management LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 9.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 49,015 shares of the healthcare product maker’s stock after acquiring an additional 4,136 shares during the quarter. Modern Wealth Management LLC’s holdings in Abbott Laboratories were worth $6,666,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. IMG Wealth Management Inc. grew its stake in Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 167 shares in the last quarter. Elequin Capital LP bought a new stake in shares of Abbott Laboratories during the 1st quarter worth approximately $30,000. Anfield Capital Management LLC boosted its position in shares of Abbott Laboratories by 81.3% during the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock worth $32,000 after acquiring an additional 104 shares in the last quarter. Curio Wealth LLC increased its stake in Abbott Laboratories by 15,250.0% in the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after acquiring an additional 305 shares during the last quarter. Finally, Pineridge Advisors LLC raised its position in Abbott Laboratories by 34.6% during the second quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the topic of a number of research analyst reports. Jefferies Financial Group raised their target price on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Wells Fargo & Company raised their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. 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 note on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Abbott Laboratories in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $125.47 on Friday. The stock’s 50-day moving average is $127.45 and its 200-day moving average is $130.49. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. 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 stock has a market cap of $218.17 billion, a P/E ratio of 15.72, a price-to-earnings-growth ratio of 2.25 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $11.40 billion. During the same period last year, the company earned $1.21 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Wednesday, October 15th were issued 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 is presently 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.