Wealthfront Advisers LLC Has $24.62 Million Position in Abbott Laboratories $ABT

Wealthfront Advisers LLC grew its position in Abbott Laboratories (NYSE:ABT) by 11.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,000 shares of the healthcare product maker’s stock after acquiring an additional 19,231 shares during the period. Wealthfront Advisers LLC’s holdings in Abbott Laboratories were worth $24,618,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Abbott Laboratories by 0.7% during the first quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker’s stock worth $22,527,039,000 after buying an additional 1,177,739 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Abbott Laboratories by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after acquiring an additional 3,371,113 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after acquiring an additional 3,616,471 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Abbott Laboratories by 12.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock valued at $1,916,966,000 after acquiring an additional 1,639,954 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Abbott Laboratories by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker’s stock worth $1,738,831,000 after purchasing an additional 168,095 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ABT. Morgan Stanley increased their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Benchmark began coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 price target on the stock. Daiwa Capital Markets raised their price objective on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Sanford C. Bernstein upped their target price on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Trading Up 0.3%

Shares of ABT stock opened at $126.78 on Friday. The stock has a market cap of $220.65 billion, a P/E 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 company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $132.09 and a 200 day simple moving average of $131.61.

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

Abbott Laboratories Announces Dividend

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

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.