Abbott Laboratories $ABT Shares Bought by Meridian Wealth Management LLC

Meridian Wealth Management LLC grew its holdings in Abbott Laboratories (NYSE:ABT) by 6.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,318 shares of the healthcare product maker’s stock after buying an additional 977 shares during the period. Meridian Wealth Management LLC’s holdings in Abbott Laboratories were worth $2,083,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABT. Brighton Jones LLC lifted its holdings in shares of Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after purchasing an additional 4,755 shares during the period. St. Louis Trust Co raised its position in Abbott Laboratories by 21.7% during the 1st quarter. St. Louis Trust Co now owns 9,679 shares of the healthcare product maker’s stock worth $1,284,000 after buying an additional 1,723 shares during the last quarter. Csenge Advisory Group lifted its stake in shares of Abbott Laboratories by 21.0% in the 1st quarter. Csenge Advisory Group now owns 19,307 shares of the healthcare product maker’s stock worth $2,529,000 after acquiring an additional 3,356 shares during the period. Brogan Financial Inc. boosted its holdings in shares of Abbott Laboratories by 7.3% in the first quarter. Brogan Financial Inc. now owns 3,215 shares of the healthcare product maker’s stock valued at $426,000 after acquiring an additional 218 shares in the last quarter. Finally, SNS Financial Group LLC increased its stake in shares of Abbott Laboratories by 0.7% during the first quarter. SNS Financial Group LLC now owns 12,591 shares of the healthcare product maker’s stock worth $1,670,000 after acquiring an additional 83 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised 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. Jefferies Financial Group raised their price target on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Daiwa Capital Markets upped their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Benchmark initiated coverage on Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 target price for the company. Finally, BTIG Research reaffirmed a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research note on Wednesday, October 15th. Two 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Stock Up 1.0%

ABT opened at $130.59 on Friday. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The company has a market cap of $227.08 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.36 and a beta of 0.68. The business’s fifty day moving average is $130.38 and its two-hundred day moving average is $131.35. 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 (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the previous year, the company posted $1.21 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s payout ratio is currently 29.57%.

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.