Genesee Capital Advisors LLC Increases Stake in Abbott Laboratories $ABT

Genesee Capital Advisors LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 4.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,567 shares of the healthcare product maker’s stock after purchasing an additional 374 shares during the period. Genesee Capital Advisors LLC’s holdings in Abbott Laboratories were worth $1,165,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at $30,000. JCIC Asset Management Inc. purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at $32,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.8%

Shares of NYSE ABT opened at $132.30 on Monday. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The firm has a market capitalization of $230.26 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 2.51 and a beta of 0.69. The firm has a fifty day simple moving average of $132.54 and a two-hundred day simple moving average of $131.60.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period in the prior year, the business earned $1.14 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on ABT. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Raymond James Financial dropped their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, July 18th. Mizuho increased their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Benchmark began coverage on shares of Abbott Laboratories in a research report on Friday. They set a “buy” rating and a $145.00 price target for the company. Finally, Leerink Partners began coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 price target for the company. Two 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $146.17.

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is currently owned by insiders.

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.