Reliant Investment Partners LLC Increases Stock Holdings in Abbott Laboratories $ABT

Reliant Investment Partners LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 1.6% in the second quarter, Holdings Channel reports. The fund owned 5,951 shares of the healthcare product maker’s stock after buying an additional 94 shares during the quarter. Reliant Investment Partners LLC’s holdings in Abbott Laboratories were worth $809,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ABT. Brighton Jones LLC increased its stake in Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after buying an additional 4,755 shares during the period. Joel Isaacson & Co. LLC grew its stake in shares of Abbott Laboratories by 2.2% during the first quarter. Joel Isaacson & Co. LLC now owns 4,092 shares of the healthcare product maker’s stock valued at $543,000 after acquiring an additional 88 shares in the last quarter. Sovran Advisors LLC increased its position in shares of Abbott Laboratories by 23.6% during the first quarter. Sovran Advisors LLC now owns 8,279 shares of the healthcare product maker’s stock worth $1,084,000 after acquiring an additional 1,583 shares during the last quarter. Root Financial Partners LLC lifted its stake in shares of Abbott Laboratories by 11.9% in the first quarter. Root Financial Partners LLC now owns 2,259 shares of the healthcare product maker’s stock worth $300,000 after acquiring an additional 241 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC boosted its holdings in Abbott Laboratories by 3.9% in the first quarter. Avidian Wealth Enterprises LLC now owns 9,036 shares of the healthcare product maker’s stock valued at $1,199,000 after purchasing an additional 337 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories 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 transaction, the chief financial officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ABT has been the topic of several analyst reports. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. 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 report on Thursday, October 16th. Daiwa Capital Markets increased their price objective on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company increased their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Trading Up 0.2%

NYSE ABT opened at $127.16 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The company has a 50-day simple moving average of $132.03 and a 200-day simple moving average of $131.64. The firm has a market capitalization of $221.31 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 2.41 and a beta of 0.69.

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, hitting the consensus estimate of $1.30. The business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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