Resonant Capital Advisors LLC Raises Stock Holdings in Abbott Laboratories $ABT

Resonant Capital Advisors LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 6.1% during the second quarter, HoldingsChannel.com reports. The fund owned 14,503 shares of the healthcare product maker’s stock after buying an additional 834 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Abbott Laboratories were worth $1,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ABT. Wealthfront Advisers LLC lifted its position in Abbott Laboratories by 11.9% during the second quarter. Wealthfront Advisers LLC now owns 181,000 shares of the healthcare product maker’s stock valued at $24,618,000 after purchasing an additional 19,231 shares during the period. Prudent Man Advisors LLC raised its stake in Abbott Laboratories by 16.1% during the 2nd quarter. Prudent Man Advisors LLC now owns 16,894 shares of the healthcare product maker’s stock valued at $2,298,000 after buying an additional 2,349 shares during the last quarter. Topsail Wealth Management LLC boosted its stake in shares of Abbott Laboratories by 3.1% in the 2nd quarter. Topsail Wealth Management LLC now owns 3,616 shares of the healthcare product maker’s stock worth $492,000 after buying an additional 110 shares during the last quarter. Orion Capital Management LLC grew its holdings in shares of Abbott Laboratories by 14.2% in the second quarter. Orion Capital Management LLC now owns 1,772 shares of the healthcare product maker’s stock worth $241,000 after acquiring an additional 220 shares during the period. Finally, Ballast Advisors LLC increased its position in Abbott Laboratories by 5.2% during the second quarter. Ballast Advisors LLC now owns 1,922 shares of the healthcare product maker’s stock valued at $261,000 after acquiring an additional 95 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $126.78 on Friday. The stock has a market cap of $220.65 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 2.41 and a beta of 0.69. 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 price of $132.09 and a 200-day moving average price of $131.61. 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 (NYSE:ABT) last issued its earnings results 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 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 quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. Abbott Laboratories’s payout ratio is currently 29.57%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ABT. Barclays raised their target price on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Daiwa Capital Markets boosted their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Morgan Stanley increased their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. The Goldman Sachs Group boosted their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Finally, William Blair raised Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $147.00.

Insider Buying and Selling at Abbott Laboratories

In related 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 approximately $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

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.