Abbott Laboratories $ABT Shares Bought by Precedent Wealth Partners LLC

Precedent Wealth Partners LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.2% in the second quarter, Holdings Channel reports. The fund owned 2,929 shares of the healthcare product maker’s stock after purchasing an additional 221 shares during the period. Precedent Wealth Partners LLC’s holdings in Abbott Laboratories were worth $398,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new position in Abbott Laboratories during the first quarter worth $27,000. Abound Financial LLC acquired a new position in Abbott Laboratories during the first quarter worth $28,000. Elequin Capital LP acquired a new position in Abbott Laboratories during the first quarter worth $30,000. JCIC Asset Management Inc. acquired a new position in Abbott Laboratories during the first quarter worth $32,000. Finally, Vision Financial Markets LLC acquired a new position in Abbott Laboratories during the first quarter worth $33,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABT has been the subject of several research reports. Wells Fargo & Company reduced their price objective on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a report on Friday, July 18th. BTIG Research dropped their price target on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Raymond James Financial dropped their price target on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, July 18th. Royal Bank Of Canada raised their price target on Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Finally, William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.39.

Insiders Place Their Bets

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction 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 completion of the sale, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by company insiders.

Abbott Laboratories Trading Up 1.1%

Shares of ABT opened at $134.49 on Friday. The stock’s 50-day moving average is $131.94 and its two-hundred day moving average is $131.33. The stock has a market cap of $234.07 billion, a PE ratio of 16.85, a P/E/G ratio of 2.52 and a beta of 0.69. 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.

Abbott Laboratories (NYSE:ABT) last released 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. The business had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Equities analysts forecast 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. Investors of record on Wednesday, October 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio 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.