Beacon Pointe Advisors LLC Buys 16,047 Shares of Abbott Laboratories $ABT

Beacon Pointe Advisors LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT) by 7.2% during the second quarter, Holdings Channel.com reports. The firm owned 239,421 shares of the healthcare product maker’s stock after buying an additional 16,047 shares during the period. Beacon Pointe Advisors LLC’s holdings in Abbott Laboratories were worth $32,564,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Abbott Laboratories by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock valued at $23,502,644,000 after buying an additional 2,977,715 shares during the period. Geode Capital Management LLC boosted its holdings in Abbott Laboratories by 3.8% in the second quarter. Geode Capital Management LLC now owns 38,293,067 shares of the healthcare product maker’s stock valued at $5,184,589,000 after acquiring an additional 1,390,554 shares during the last quarter. Wellington Management Group LLP increased its position in Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after purchasing an additional 3,371,113 shares during the period. Norges Bank bought a new stake in Abbott Laboratories during the 2nd quarter worth about $3,026,180,000. Finally, Goldman Sachs Group Inc. lifted its position in 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 purchasing an additional 3,616,471 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ABT shares. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. BTIG Research reissued a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a research note on Thursday, November 20th. Wells Fargo & Company lifted their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Benchmark began coverage on Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 target price on the stock. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Stock Performance

ABT stock opened at $128.11 on Tuesday. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The business’s 50-day moving average price is $129.23 and its two-hundred day moving average price is $131.04. The firm has a market cap of $222.77 billion, a PE ratio of 16.05, 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 released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting 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 for the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the previous year, the business posted $1.21 EPS. Abbott Laboratories’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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