Biltmore Family Office LLC Has $3.97 Million Stock Position in Abbott Laboratories $ABT

Biltmore Family Office LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,173 shares of the healthcare product maker’s stock after selling 2,773 shares during the period. Abbott Laboratories makes up 0.7% of Biltmore Family Office LLC’s investment portfolio, making the stock its 29th biggest holding. Biltmore Family Office LLC’s holdings in Abbott Laboratories were worth $3,968,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ABT. Brighton Jones LLC raised its holdings in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after acquiring an additional 4,755 shares during the last quarter. Ameritas Advisory Services LLC raised its holdings in shares of Abbott Laboratories by 1.8% in the 1st quarter. Ameritas Advisory Services LLC now owns 16,683 shares of the healthcare product maker’s stock worth $2,115,000 after acquiring an additional 287 shares during the last quarter. Argent Advisors Inc. acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth about $227,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth about $53,000. Finally, Koshinski Asset Management Inc. raised its holdings in shares of Abbott Laboratories by 1.6% in the 1st quarter. Koshinski Asset Management Inc. now owns 25,139 shares of the healthcare product maker’s stock worth $3,335,000 after acquiring an additional 394 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE ABT opened at $126.63 on Wednesday. Abbott Laboratories has a 1 year low of $110.86 and a 1 year 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. The stock has a market capitalization of $220.39 billion, a PE ratio of 15.87, a P/E/G ratio of 2.41 and a beta of 0.69. The company’s 50 day simple moving average is $131.93 and its two-hundred day simple moving average is $131.66.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (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 17.78%. The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same period in the prior year, the company posted $1.21 EPS. The business’s revenue for the quarter 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. Analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

ABT has been the subject of a number of research reports. Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Benchmark began coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 target price for the company. Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Raymond James Financial upped their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Evercore ISI dropped 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. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.

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.