Cranbrook Wealth Management LLC Buys 1,342 Shares of Abbott Laboratories $ABT

Cranbrook Wealth Management LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 12.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,527 shares of the healthcare product maker’s stock after acquiring an additional 1,342 shares during the period. Cranbrook Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,704,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in shares of Abbott Laboratories by 3.6% in the 2nd quarter. Fifth Third Bancorp now owns 1,326,375 shares of the healthcare product maker’s stock valued at $180,400,000 after purchasing an additional 46,097 shares during the last quarter. Sheets Smith Wealth Management boosted its position in Abbott Laboratories by 4.5% during the second quarter. Sheets Smith Wealth Management now owns 3,105 shares of the healthcare product maker’s stock valued at $422,000 after acquiring an additional 134 shares during the last quarter. BNC Wealth Management LLC grew its holdings in Abbott Laboratories by 7.5% during the 2nd quarter. BNC Wealth Management LLC now owns 25,262 shares of the healthcare product maker’s stock worth $3,436,000 after acquiring an additional 1,761 shares during the period. Forte Capital LLC ADV raised its position in shares of Abbott Laboratories by 12.6% in the 2nd quarter. Forte Capital LLC ADV now owns 3,580 shares of the healthcare product maker’s stock worth $487,000 after acquiring an additional 400 shares in the last quarter. Finally, Covea Finance lifted its stake in shares of Abbott Laboratories by 31.3% in the 2nd quarter. Covea Finance now owns 385,254 shares of the healthcare product maker’s stock valued at $52,398,000 after purchasing an additional 91,800 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $135.82 on Wednesday. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company’s 50 day moving average price is $130.65 and its two-hundred day moving average price is $131.15. The stock has a market cap of $236.39 billion, a P/E ratio of 17.02, a P/E/G ratio of 2.59 and a beta of 0.69. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts’ consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period last year, the business posted $1.14 earnings per share. Abbott Laboratories’s revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business 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 annualized dividend and a yield of 1.7%. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Insider Transactions at Abbott Laboratories

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

Wall Street Analyst Weigh In

ABT has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Raymond James Financial reduced their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, July 18th. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Finally, Mizuho lifted their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.22.

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.