Syntegra Private Wealth Group LLC Has $1.77 Million Stock Holdings in Abbott Laboratories $ABT

Syntegra Private Wealth Group LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,046 shares of the healthcare product maker’s stock after buying an additional 196 shares during the quarter. Syntegra Private Wealth Group LLC’s holdings in Abbott Laboratories were worth $1,774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Triton Financial Group Inc bought a new position in Abbott Laboratories in the 2nd quarter valued at about $2,390,000. VCI Wealth Management LLC lifted its holdings in shares of Abbott Laboratories by 12.4% in the second quarter. VCI Wealth Management LLC now owns 12,831 shares of the healthcare product maker’s stock valued at $1,745,000 after purchasing an additional 1,415 shares in the last quarter. Klingman & Associates LLC boosted its position in shares of Abbott Laboratories by 17.7% during the second quarter. Klingman & Associates LLC now owns 12,490 shares of the healthcare product maker’s stock valued at $1,699,000 after buying an additional 1,876 shares during the last quarter. Phoenix Financial Ltd. raised its position in Abbott Laboratories by 54.6% in the 2nd quarter. Phoenix Financial Ltd. now owns 38,679 shares of the healthcare product maker’s stock valued at $5,258,000 after buying an additional 13,666 shares during the last quarter. Finally, Drive Wealth Management LLC lifted its stake in Abbott Laboratories by 1.9% during the 2nd quarter. Drive Wealth Management LLC now owns 16,797 shares of the healthcare product maker’s stock valued at $2,285,000 after acquiring an additional 312 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of several recent analyst reports. Barclays upped their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Sanford C. Bernstein increased their price objective 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. Evercore ISI cut their target price 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 reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $147.61.

Abbott Laboratories Trading Up 0.7%

Shares of ABT stock opened at $129.49 on Tuesday. 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 cap of $225.38 billion, a P/E ratio of 16.23, a PEG ratio of 2.44 and a beta of 0.69. The company has a 50 day moving average of $132.34 and a 200-day moving average of $131.57. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same period in the prior year, the company earned $1.21 earnings per share. Abbott Laboratories’s revenue 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. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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

Insider Buying and Selling

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.46% of the company’s stock.

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.