Pinnacle Wealth Management Group Inc. Invests $303,000 in Abbott Laboratories $ABT

Pinnacle Wealth Management Group Inc. purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,230 shares of the healthcare product maker’s stock, valued at approximately $303,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Mayflower Financial Advisors LLC lifted its stake in Abbott Laboratories by 0.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock worth $2,298,000 after purchasing an additional 78 shares in the last quarter. FF Advisors LLC increased its holdings in shares of Abbott Laboratories by 4.3% in the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after purchasing an additional 79 shares during the last quarter. Charles Schwab Trust Co lifted its position in shares of Abbott Laboratories by 0.6% in the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after buying an additional 79 shares in the last quarter. Opes Wealth Management LLC grew its holdings in Abbott Laboratories by 2.9% during the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock valued at $379,000 after buying an additional 80 shares in the last quarter. Finally, Lcnb Corp increased its stake in Abbott Laboratories by 0.5% in the 1st quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker’s stock worth $2,111,000 after acquiring an additional 80 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABT has been the subject of several research reports. Daiwa Capital Markets increased their price objective on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday. BTIG Research reiterated a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Friday. The Goldman Sachs Group lifted their target price on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, Barclays boosted their target price on Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $126.78 on Friday. The firm’s 50 day simple moving average is $132.09 and its 200-day simple moving average is $131.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The firm has a market cap of $220.65 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 2.40 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.30. The business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, equities analysts predict 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 paid a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business’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 value of $746,752.50. Following the completion of the transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.

About Abbott Laboratories

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.