Hibernia Wealth Partners LLC Purchases New Stake in Abbott Laboratories $ABT

Hibernia Wealth Partners LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,147 shares of the healthcare product maker’s stock, valued at approximately $428,000.

A number of other hedge funds also recently modified their holdings of the stock. IMG Wealth Management Inc. lifted its position in Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 167 shares during the last quarter. Elequin Capital LP acquired a new stake in Abbott Laboratories during the 1st quarter worth approximately $30,000. Vision Financial Markets LLC bought a new stake in Abbott Laboratories in the 1st quarter valued at $33,000. Accent Capital Management LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at $38,000. Finally, Curio Wealth LLC increased its position in Abbott Laboratories by 15,250.0% during the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after buying an additional 305 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $129.16 on Friday. The company has a market capitalization of $224.59 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 2.36 and a beta of 0.68. The firm’s 50 day simple moving average is $130.42 and its 200 day simple moving average is $131.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same period last year, the business posted $1.21 earnings per share. The business’s revenue for the quarter 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. As a group, sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued a $0.59 dividend. 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 dividend payout ratio is 29.57%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Mizuho upped their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $147.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 16th. Raymond James Financial lifted their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Barclays increased their target price on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Company 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.