Wealthstream Advisors Inc. Buys Shares of 2,040 Abbott Laboratories $ABT

Wealthstream Advisors Inc. bought a new stake in Abbott Laboratories (NYSE:ABT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,040 shares of the healthcare product maker’s stock, valued at approximately $277,000.

A number of other institutional investors also recently made changes to their positions in the business. TrueMark Investments LLC acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at approximately $1,619,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Abbott Laboratories during the 2nd quarter valued at approximately $79,004,000. United Bank raised its position in shares of Abbott Laboratories by 7.4% during the 2nd quarter. United Bank now owns 29,004 shares of the healthcare product maker’s stock valued at $3,945,000 after acquiring an additional 2,001 shares in the last quarter. Novare Capital Management LLC raised its position in shares of Abbott Laboratories by 0.6% during the 2nd quarter. Novare Capital Management LLC now owns 104,648 shares of the healthcare product maker’s stock valued at $14,233,000 after acquiring an additional 629 shares in the last quarter. Finally, Quotient Wealth Partners LLC raised its position in shares of Abbott Laboratories by 22.7% during the 2nd quarter. Quotient Wealth Partners LLC now owns 9,430 shares of the healthcare product maker’s stock valued at $1,283,000 after acquiring an additional 1,742 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the 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 owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group upped their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday. Wells Fargo & Company upped their price target on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, BTIG Research restated a “buy” rating and set a $145.00 price objective on shares of Abbott Laboratories in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.61.

Abbott Laboratories Price Performance

Shares of ABT opened at $128.69 on Friday. The company has a market cap of $223.98 billion, a P/E ratio of 16.13, a PEG ratio of 2.44 and a beta of 0.69. The stock has a fifty day moving average price of $132.38 and a 200 day moving average price of $131.54. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the business earned $1.21 EPS. 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. On average, research analysts forecast 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 paid 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 dividend payout ratio is presently 29.57%.

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.