Abbott Laboratories $ABT Shares Bought by Reliant Investment Partners LLC

Reliant Investment Partners LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,951 shares of the healthcare product maker’s stock after acquiring an additional 94 shares during the period. Reliant Investment Partners LLC’s holdings in Abbott Laboratories were worth $809,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. IMG Wealth Management Inc. raised its stake in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 167 shares during the last quarter. Hughes Financial Services LLC purchased a new position in Abbott Laboratories during the 1st quarter valued at about $27,000. Abound Financial LLC acquired a new position in Abbott Laboratories during the first quarter worth about $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories in the first quarter valued at about $30,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $33,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm’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 transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ABT shares. Benchmark assumed 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. Daiwa Capital Markets boosted their price target on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Evercore ISI reduced their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Two investment 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $127.16 on Tuesday. The stock has a market capitalization of $221.31 billion, a P/E ratio of 15.93, a PEG ratio of 2.41 and a beta of 0.69. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average price is $132.03 and its 200 day moving average price is $131.64. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period last year, the business posted $1.21 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s payout ratio is currently 29.57%.

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.