QRG Capital Management Inc. Has $54.96 Million Stake in Abbott Laboratories $ABT

QRG Capital Management Inc. boosted its stake in Abbott Laboratories (NYSE:ABT) by 16.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,050 shares of the healthcare product maker’s stock after buying an additional 57,569 shares during the quarter. QRG Capital Management Inc.’s holdings in Abbott Laboratories were worth $54,955,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Precedent Wealth Partners LLC boosted its stake in Abbott Laboratories by 8.2% in the 2nd quarter. Precedent Wealth Partners LLC now owns 2,929 shares of the healthcare product maker’s stock valued at $398,000 after buying an additional 221 shares in the last quarter. Fairvoy Private Wealth LLC boosted its stake in Abbott Laboratories by 1.3% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 28,834 shares of the healthcare product maker’s stock valued at $3,922,000 after buying an additional 359 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its stake in Abbott Laboratories by 24.3% in the second quarter. Franklin Street Advisors Inc. NC now owns 9,800 shares of the healthcare product maker’s stock worth $1,333,000 after purchasing an additional 1,919 shares in the last quarter. Consilium Wealth Advisory LLC boosted its stake in Abbott Laboratories by 95.1% in the second quarter. Consilium Wealth Advisory LLC now owns 7,455 shares of the healthcare product maker’s stock worth $1,014,000 after purchasing an additional 3,633 shares in the last quarter. Finally, New Century Financial Group LLC acquired a new position in Abbott Laboratories in the second quarter worth $243,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Up 1.1%

ABT stock opened at $134.49 on Friday. The company has a market cap of $234.07 billion, a P/E ratio of 16.85, a PEG ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average of $131.94 and a 200-day moving average of $131.33.

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

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ABT. Leerink Partnrs raised Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. BTIG Research reduced their price objective on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Morgan Stanley boosted their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. The Goldman Sachs Group boosted their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company dropped their target price on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.39.

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.