Founders Grove Wealth Partners LLC Has $590,000 Holdings in Abbott Laboratories $ABT

Founders Grove Wealth Partners LLC grew its position in Abbott Laboratories (NYSE:ABT) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,339 shares of the healthcare product maker’s stock after purchasing an additional 160 shares during the period. Founders Grove Wealth Partners LLC’s holdings in Abbott Laboratories were worth $590,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ABT. Nuveen LLC acquired a new position in Abbott Laboratories in the 1st quarter worth about $1,658,180,000. Goldman Sachs Group Inc. boosted its stake in shares of 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 worth $2,120,516,000 after acquiring an additional 3,616,471 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Abbott Laboratories by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after acquiring an additional 3,371,113 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Abbott Laboratories by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock worth $1,916,966,000 after acquiring an additional 1,639,954 shares in the last quarter. Finally, Jensen Investment Management Inc. boosted its stake in shares of Abbott Laboratories by 1,221.2% during the 1st quarter. Jensen Investment Management Inc. now owns 1,365,785 shares of the healthcare product maker’s stock worth $181,171,000 after acquiring an additional 1,262,407 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Abbott Laboratories Trading Down 0.8%

Abbott Laboratories stock opened at $131.52 on Tuesday. The business has a 50 day moving average price of $132.57 and a two-hundred day moving average price of $131.60. 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 stock has a market cap of $228.90 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 2.51 and a beta of 0.69. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS 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 during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. The company’s revenue for the quarter 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 analysts forecast 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. Stockholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jefferies Financial Group upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and increased their target price for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Leerink Partners assumed coverage on Abbott Laboratories in a research note on Monday, June 16th. They set a “market perform” rating and a $143.00 target price for the company. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Mizuho increased their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company cut their price target on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $146.17.

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.