Abbott Laboratories $ABT Shares Purchased by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE raised its stake in Abbott Laboratories (NYSE:ABT) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,879 shares of the healthcare product maker’s stock after purchasing an additional 565 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Abbott Laboratories were worth $5,560,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ABT. Brighton Jones LLC boosted its holdings in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after purchasing an additional 4,755 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Abbott Laboratories by 17.0% in the 1st quarter. GAMMA Investing LLC now owns 38,467 shares of the healthcare product maker’s stock valued at $5,103,000 after purchasing an additional 5,590 shares during the last quarter. Shepherd Financial Partners LLC boosted its holdings in shares of Abbott Laboratories by 4.5% in the 1st quarter. Shepherd Financial Partners LLC now owns 3,080 shares of the healthcare product maker’s stock valued at $408,000 after purchasing an additional 132 shares during the last quarter. CWA Asset Management Group LLC raised its stake in shares of Abbott Laboratories by 23.6% in the 1st quarter. CWA Asset Management Group LLC now owns 12,322 shares of the healthcare product maker’s stock valued at $1,635,000 after acquiring an additional 2,352 shares during the period. Finally, Harrell Investment Partners LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at $216,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, 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 at the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $127.38 on Friday. The firm has a market cap of $221.70 billion, a P/E ratio of 15.96, a P/E/G ratio of 2.46 and a beta of 0.69. 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 1-year low of $110.86 and a 1-year high of $141.23. The firm has a fifty day moving average of $132.49 and a two-hundred day moving average of $131.56.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting the consensus estimate of $1.30. The company had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABT. Morgan Stanley raised their target price 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. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday. The Goldman Sachs Group raised their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Raymond James Financial raised their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Benchmark initiated coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They set a “buy” rating and a $145.00 price target on the stock. Two investment 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.44.

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.