Abbott Laboratories $ABT Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its stake in Abbott Laboratories (NYSE:ABT) by 36.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 65,878 shares of the healthcare product maker’s stock after acquiring an additional 17,546 shares during the quarter. Ritholtz Wealth Management’s holdings in Abbott Laboratories were worth $8,960,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Private Wealth Asset Management LLC lifted its stake in Abbott Laboratories by 2.4% during the second quarter. Private Wealth Asset Management LLC now owns 11,355 shares of the healthcare product maker’s stock worth $1,544,000 after purchasing an additional 269 shares in the last quarter. Sagespring Wealth Partners LLC raised its holdings in shares of Abbott Laboratories by 11.1% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 29,447 shares of the healthcare product maker’s stock valued at $4,005,000 after buying an additional 2,948 shares during the period. Boston Trust Walden Corp lifted its stake in Abbott Laboratories by 9.5% during the 2nd quarter. Boston Trust Walden Corp now owns 50,751 shares of the healthcare product maker’s stock worth $6,903,000 after acquiring an additional 4,418 shares in the last quarter. TD Asset Management Inc boosted its holdings in Abbott Laboratories by 98.6% during the 2nd quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock valued at $471,669,000 after acquiring an additional 1,721,523 shares during the period. Finally, Founders Grove Wealth Partners LLC grew its position in Abbott Laboratories by 3.8% in the 2nd quarter. Founders Grove Wealth Partners LLC now owns 4,339 shares of the healthcare product maker’s stock valued at $590,000 after acquiring an additional 160 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $133.17 on Wednesday. The company has a market cap of $231.77 billion, a P/E ratio of 16.69, a PEG ratio of 2.49 and a beta of 0.69. The firm has a fifty day moving average price of $132.62 and a 200 day moving average price of $131.61. 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.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.Abbott Laboratories’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $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. Sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal 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 issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is 29.57%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a report 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. Evercore ISI increased their price objective on Abbott Laboratories from $140.00 to $144.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Finally, BTIG Research lowered their target price on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Two 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 stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $146.17.

Abbott Laboratories 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.