TRUE Private Wealth Advisors Buys 941 Shares of Abbott Laboratories $ABT

TRUE Private Wealth Advisors boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 22.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,208 shares of the healthcare product maker’s stock after purchasing an additional 941 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Abbott Laboratories were worth $708,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Tortoise Investment Management LLC raised its holdings in shares of Abbott Laboratories by 10.7% in the second quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock valued at $108,000 after buying an additional 77 shares during the last quarter. FF Advisors LLC increased its holdings in shares of Abbott Laboratories by 4.3% in the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock valued at $259,000 after purchasing an additional 79 shares in the last quarter. Charles Schwab Trust Co lifted its holdings in Abbott Laboratories by 0.6% during the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after buying an additional 79 shares in the last quarter. Bridgewater Advisors Inc. boosted its position in Abbott Laboratories by 0.6% in the 2nd quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock valued at $1,607,000 after buying an additional 79 shares during the last quarter. Finally, Opes Wealth Management LLC increased its stake in shares of Abbott Laboratories by 2.9% in the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock valued at $379,000 after buying an additional 80 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 0.4%

NYSE:ABT opened at $130.59 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. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The company has a market cap of $227.08 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. The business has a 50 day moving average price of $130.30 and a two-hundred day moving average price of $131.33.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 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 during the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on ABT. Raymond James Financial boosted their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price target on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. The Goldman Sachs Group upped their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $147.00.

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.