Mcrae Capital Management Inc. Has $544,000 Stock Holdings in Abbott Laboratories $ABT

Mcrae Capital Management Inc. reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 35.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,000 shares of the healthcare product maker’s stock after selling 2,212 shares during the quarter. Mcrae Capital Management Inc.’s holdings in Abbott Laboratories were worth $544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IMG Wealth Management Inc. raised its position in shares of Abbott Laboratories by 759.1% in the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 167 shares in the last quarter. Hughes Financial Services LLC bought a new position in Abbott Laboratories in the first quarter valued at approximately $27,000. Elequin Capital LP acquired a new position in Abbott Laboratories during the first quarter valued at approximately $30,000. Vision Financial Markets LLC bought a new stake in Abbott Laboratories during the first quarter worth $33,000. Finally, Accent Capital Management LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth $38,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $124.91 on Friday. The firm has a market capitalization of $217.20 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The company has a fifty day moving average of $130.91 and a 200-day moving average of $131.43. 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 (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. The business had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis 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 29.57%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABT. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Benchmark assumed coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 price objective for the company. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Wells Fargo & Company boosted their price target on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Finally, Morgan Stanley raised their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

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.