Brooktree Capital Management Makes New $694,000 Investment in Abbott Laboratories $ABT

Brooktree Capital Management bought a new stake in shares of Abbott Laboratories (NYSE:ABT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,100 shares of the healthcare product maker’s stock, valued at approximately $694,000. Abbott Laboratories makes up approximately 0.5% of Brooktree Capital Management’s holdings, making the stock its 24th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Resona Asset Management Co. Ltd. raised its holdings in Abbott Laboratories by 9.3% during the second quarter. Resona Asset Management Co. Ltd. now owns 620,916 shares of the healthcare product maker’s stock valued at $84,285,000 after acquiring an additional 52,802 shares during the period. Atlantic Union Bankshares Corp grew its position in shares of Abbott Laboratories by 119.4% during the second quarter. Atlantic Union Bankshares Corp now owns 186,004 shares of the healthcare product maker’s stock worth $25,298,000 after purchasing an additional 101,220 shares in the last quarter. SP Asset Management LLC grew its position in shares of Abbott Laboratories by 8.3% during the second quarter. SP Asset Management LLC now owns 127,956 shares of the healthcare product maker’s stock worth $17,403,000 after purchasing an additional 9,777 shares in the last quarter. Trillium Asset Management LLC boosted its stake in Abbott Laboratories by 10.6% in the 2nd quarter. Trillium Asset Management LLC now owns 6,771 shares of the healthcare product maker’s stock worth $921,000 after purchasing an additional 651 shares during the period. Finally, Blue Barn Wealth LLC boosted its stake in Abbott Laboratories by 6.4% in the 2nd quarter. Blue Barn Wealth LLC now owns 3,588 shares of the healthcare product maker’s stock worth $488,000 after purchasing an additional 215 shares during the period. 75.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on ABT shares. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. The Goldman Sachs Group raised their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Finally, Mizuho increased their price target on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Two equities 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 company’s stock. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $124.62 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The firm has a fifty day simple moving average of $131.04 and a two-hundred day simple moving average of $131.48. The stock has a market capitalization of $216.70 billion, a P/E ratio of 15.62, a PEG ratio of 2.36 and a beta of 0.68.

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

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given 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 1.9%. Abbott Laboratories’s payout ratio is currently 29.57%.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories 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. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by insiders.

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.