Balboa Wealth Partners Acquires 615 Shares of Abbott Laboratories $ABT

Balboa Wealth Partners boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 7.3% during the 2nd quarter, Holdings Channel reports. The firm owned 9,068 shares of the healthcare product maker’s stock after buying an additional 615 shares during the period. Balboa Wealth Partners’ holdings in Abbott Laboratories were worth $1,233,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Mayflower Financial Advisors LLC boosted its holdings in shares of 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 during the period. FF Advisors LLC lifted its stake in shares of Abbott Laboratories by 4.3% during the 2nd 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 increased its position in Abbott Laboratories by 0.6% during the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after buying an additional 79 shares in the last quarter. Opes Wealth Management LLC increased its position 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 holdings in shares of Abbott Laboratories by 0.5% in the first quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker’s stock valued at $2,111,000 after purchasing an additional 80 shares during the period. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley upped their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Barclays raised their target price on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday. Benchmark assumed coverage on Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 price target for the company. Wells Fargo & Company lifted their target price on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Mizuho lifted their price target on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $147.61.

Abbott Laboratories Stock Up 0.8%

ABT opened at $128.69 on Monday. The stock has a market capitalization of $223.98 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The business’s 50-day simple moving average is $132.38 and its 200-day simple moving average is $131.54. 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 issued its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. The firm had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 EPS. 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 year.

Abbott Laboratories Announces Dividend

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

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

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.