Beverly Hills Private Wealth LLC Has $1.92 Million Stake in Abbott Laboratories $ABT

Beverly Hills Private Wealth LLC trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 4.1% during the second quarter, HoldingsChannel reports. The fund owned 14,079 shares of the healthcare product maker’s stock after selling 600 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Abbott Laboratories were worth $1,915,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at $28,000. Elequin Capital LP acquired a new stake in Abbott Laboratories in the 1st quarter valued at $30,000. JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories in the 1st quarter valued at $32,000. Finally, Vision Financial Markets LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at $33,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 0.8%

Abbott Laboratories stock opened at $128.69 on Monday. The firm has a market capitalization of $223.98 billion, a PE ratio of 16.13, a P/E/G ratio of 2.44 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. The company’s 50-day moving average is $132.38 and its 200-day moving average is $131.54. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

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

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. 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 payout ratio is presently 29.57%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein lifted their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group lifted their price target 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. BTIG Research reiterated a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a research note on Wednesday, October 15th. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Raymond James Financial boosted their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.61.

Insider Activity at Abbott Laboratories

In related 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 sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

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.