Axxcess Wealth Management LLC Buys 643 Shares of Abbott Laboratories $ABT

Axxcess Wealth Management LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,742 shares of the healthcare product maker’s stock after purchasing an additional 643 shares during the period. Axxcess Wealth Management LLC’s holdings in Abbott Laboratories were worth $17,782,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ABT. Nuveen LLC bought a new position in Abbott Laboratories in the 1st quarter valued at approximately $1,658,180,000. Goldman Sachs Group Inc. lifted its stake in Abbott Laboratories by 29.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock valued at $2,120,516,000 after purchasing an additional 3,616,471 shares during the last quarter. Wellington Management Group LLP lifted its stake in Abbott Laboratories by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after purchasing an additional 3,371,113 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Abbott Laboratories by 12.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock valued at $1,916,966,000 after acquiring an additional 1,639,954 shares during the last quarter. Finally, Jensen Investment Management Inc. raised its stake in shares of Abbott Laboratories by 1,221.2% during the first quarter. Jensen Investment Management Inc. now owns 1,365,785 shares of the healthcare product maker’s stock valued at $181,171,000 after acquiring an additional 1,262,407 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ABT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. 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 note on Friday, July 18th. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Morgan Stanley raised their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Mizuho raised their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $146.17.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $131.52 on Tuesday. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The firm has a fifty day simple moving average of $132.57 and a 200 day simple moving average of $131.60. The company has a market capitalization of $228.90 billion, a PE ratio of 16.48, a P/E/G ratio of 2.51 and a beta of 0.69. 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 (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts’ consensus estimates of $1.26. The business had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company posted $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

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

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.