Luts & Greenleigh Group Inc. Purchases 254 Shares of Abbott Laboratories $ABT

Luts & Greenleigh Group Inc. lifted its stake in Abbott Laboratories (NYSE:ABT) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,685 shares of the healthcare product maker’s stock after acquiring an additional 254 shares during the quarter. Abbott Laboratories makes up 1.9% of Luts & Greenleigh Group Inc.’s portfolio, making the stock its 7th biggest holding. Luts & Greenleigh Group Inc.’s holdings in Abbott Laboratories were worth $1,948,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ABT. Nuveen LLC acquired a new position in shares of Abbott Laboratories in the first quarter worth $1,658,180,000. T. Rowe Price Investment Management Inc. boosted its holdings in Abbott Laboratories by 383.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker’s stock worth $945,453,000 after purchasing an additional 6,628,310 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Abbott Laboratories by 15,420.4% in the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker’s stock worth $676,866,000 after purchasing an additional 5,069,771 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Abbott Laboratories by 29.2% during the first 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. Finally, Wellington Management Group LLP boosted its holdings in Abbott Laboratories by 12.8% during the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after acquiring an additional 3,371,113 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABT has been the subject of a number of recent analyst reports. Leerink Partners initiated coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They set a “market perform” rating and a $143.00 price target for the company. Wells Fargo & Company cut their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, July 18th. Evercore ISI upped their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Morgan Stanley increased their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Finally, BTIG Research dropped their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $144.47.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $131.1940 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The firm has a market cap of $228.34 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.47 and a beta of 0.70. The firm has a 50 day simple moving average of $131.28 and a 200 day simple moving average of $131.24. Abbott Laboratories has a fifty-two week low of $110.33 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the business posted $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

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.