Homestead Advisers Corp Grows Position in Abbott Laboratories $ABT

Homestead Advisers Corp increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 908,746 shares of the healthcare product maker’s stock after acquiring an additional 1,800 shares during the quarter. Abbott Laboratories comprises 2.9% of Homestead Advisers Corp’s portfolio, making the stock its 6th biggest holding. Homestead Advisers Corp owned 0.05% of Abbott Laboratories worth $123,599,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ABT. IMG Wealth Management Inc. lifted its stake 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 buying an additional 167 shares during the last quarter. Hughes Financial Services LLC acquired a new stake in Abbott Laboratories during the first quarter worth approximately $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories during the first quarter worth approximately $28,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories in the first quarter valued at approximately $30,000. Finally, Vision Financial Markets LLC bought a new position in shares of Abbott Laboratories during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

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

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. The Goldman Sachs Group boosted their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Evercore ISI lowered their price objective 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Trading Up 1.6%

Shares of ABT stock opened at $125.78 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $218.71 billion, a P/E ratio of 15.76, a P/E/G ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The stock’s fifty day simple moving average is $131.17 and its 200 day simple moving average is $131.52.

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. As a group, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders 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 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s payout ratio is presently 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.