Abbott Laboratories $ABT Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 10.4% during the second quarter, Holdings Channel reports. The institutional investor owned 2,152,694 shares of the healthcare product maker’s stock after acquiring an additional 203,617 shares during the period. Corient Private Wealth LLC’s holdings in Abbott Laboratories were worth $292,788,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABT. IMG Wealth Management Inc. grew its holdings in shares of Abbott Laboratories by 759.1% in the 2nd 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 period. Elequin Capital LP purchased a new stake in Abbott Laboratories during the first quarter worth $30,000. Anfield Capital Management LLC grew its holdings in Abbott Laboratories by 81.3% in the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Delos Wealth Advisors LLC purchased a new position in shares of Abbott Laboratories in the second quarter valued at $32,000. Finally, Curio Wealth LLC raised its stake in shares of 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 last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 1.8%

Shares of ABT opened at $125.47 on Monday. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a market capitalization of $218.17 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71. The stock has a fifty day moving average of $127.45 and a two-hundred day moving average of $130.47. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.24 and a current ratio of 1.70.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. The business had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, January 15th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ABT. Royal Bank Of Canada reissued an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 16th. Benchmark began coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Sanford C. Bernstein increased their target price on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Evercore ISI cut their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Two equities 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. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $147.00.

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.