4,002 Shares in Abbott Laboratories $ABT Acquired by Summit Wealth & Retirement Planning Inc.

Summit Wealth & Retirement Planning Inc. bought a new stake in shares of Abbott Laboratories (NYSE:ABT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,002 shares of the healthcare product maker’s stock, valued at approximately $544,000.

Several other institutional investors have also added to or reduced their stakes in ABT. Nuveen LLC purchased a new stake in Abbott Laboratories in the first quarter worth about $1,658,180,000. Goldman Sachs Group Inc. grew its stake 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 valued at $2,120,516,000 after acquiring an additional 3,616,471 shares during the period. Wellington Management Group LLP increased its holdings in Abbott Laboratories by 12.8% in 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 in the last quarter. TD Asset Management Inc raised its stake in Abbott Laboratories by 98.6% during the 2nd quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock worth $471,669,000 after acquiring an additional 1,721,523 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Abbott Laboratories by 12.8% during the first 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 purchasing an additional 1,639,954 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABT. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Sanford C. Bernstein raised their price target on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. The Goldman Sachs Group lifted their target price on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company upped their price target on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. 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.

Abbott Laboratories Price Performance

NYSE:ABT opened at $126.28 on Friday. The business’s 50-day moving average is $130.78 and its 200 day moving average is $131.40. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company has a market capitalization of $219.59 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.36 and a beta of 0.68. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last posted its 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 return on equity of 17.78% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the company earned $1.21 EPS. The company’s quarterly revenue 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, equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. Abbott Laboratories’s payout ratio is 29.57%.

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.