1,586 Shares in Abbott Laboratories $ABT Purchased by Grant Street Asset Management Inc.

Grant Street Asset Management Inc. acquired a new position in shares of Abbott Laboratories (NYSE:ABT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,586 shares of the healthcare product maker’s stock, valued at approximately $216,000.

Other large investors have also made changes to their positions in the company. IMG Wealth Management Inc. lifted its position in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 167 shares during the last quarter. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth about $27,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth about $28,000. Elequin Capital LP bought a new position in Abbott Laboratories during the first quarter valued at about $30,000. Finally, Vision Financial Markets LLC bought a new position in Abbott Laboratories during the first quarter valued at about $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the topic of several research reports. Royal Bank Of Canada restated an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 16th. Mizuho boosted their price target on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their price target on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Finally, Evercore ISI lowered their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $147.00.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction 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 represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Trading Down 1.7%

ABT stock opened at $124.42 on Thursday. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The firm has a market cap of $216.55 billion, a P/E ratio of 15.59, a P/E/G ratio of 2.40 and a beta of 0.69. The business’s 50 day moving average is $131.78 and its 200-day moving average is $131.64. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last announced 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. The business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.Abbott Laboratories’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio is 29.57%.

About Abbott Laboratories

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.