Beta Wealth Group Inc. Buys 800 Shares of Abbott Laboratories $ABT

Beta Wealth Group Inc. grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 33.3% in the second quarter, HoldingsChannel.com reports. The fund owned 3,204 shares of the healthcare product maker’s stock after acquiring an additional 800 shares during the quarter. Beta Wealth Group Inc.’s holdings in Abbott Laboratories were worth $436,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ABT. Vanguard Group Inc. increased its holdings in Abbott Laboratories by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker’s stock valued at $22,527,039,000 after buying an additional 1,177,739 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Abbott Laboratories by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 38,293,067 shares of the healthcare product maker’s stock worth $5,184,589,000 after acquiring an additional 1,390,554 shares during the period. Wellington Management Group LLP increased its stake in Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after acquiring an additional 3,371,113 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Abbott Laboratories by 29.2% during the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock valued at $2,120,516,000 after purchasing an additional 3,616,471 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Abbott Laboratories by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker’s stock worth $1,738,831,000 after purchasing an additional 168,095 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABT. Wells Fargo & Company lifted 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. Barclays boosted their target price on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Evercore ISI lowered their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Finally, BTIG Research restated a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Stock Up 1.0%

Shares of NYSE ABT opened at $130.59 on Friday. The company has a 50 day simple moving average of $130.38 and a 200 day simple moving average of $131.35. 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 has a 1 year low of $110.86 and a 1 year high of $141.23. The firm has a market cap of $227.08 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. The firm had revenue of $11.37 billion during 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 company’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

Abbott Laboratories 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.