Savvy Advisors Inc. Acquires 637 Shares of Abbott Laboratories $ABT

Savvy Advisors Inc. raised its stake in Abbott Laboratories (NYSE:ABT) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,305 shares of the healthcare product maker’s stock after acquiring an additional 637 shares during the period. Savvy Advisors Inc.’s holdings in Abbott Laboratories were worth $2,898,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ABT. Brighton Jones LLC grew its holdings in shares of Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after purchasing an additional 4,755 shares during the last quarter. Rossby Financial LCC bought a new stake in shares of Abbott Laboratories during the first quarter worth $35,000. Arbor Trust Wealth Advisors LLC grew its holdings in shares of Abbott Laboratories by 0.5% during the first quarter. Arbor Trust Wealth Advisors LLC now owns 47,381 shares of the healthcare product maker’s stock worth $6,285,000 after purchasing an additional 226 shares during the last quarter. Keybank National Association OH grew its holdings in shares of Abbott Laboratories by 36.1% during the first quarter. Keybank National Association OH now owns 1,325,495 shares of the healthcare product maker’s stock worth $175,827,000 after purchasing an additional 351,431 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA boosted its holdings in Abbott Laboratories by 7.6% in the first quarter. LFA Lugano Financial Advisors SA now owns 2,525 shares of the healthcare product maker’s stock valued at $335,000 after acquiring an additional 178 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Down 1.7%

ABT stock opened at $124.42 on Thursday. 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 50 day moving average price of $131.78 and a two-hundred day moving average price of $131.64. The company has a market cap of $216.55 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 2.40 and a beta of 0.69. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period last year, the company earned $1.21 earnings per share. The business’s 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. Analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend yield of 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s payout ratio is currently 29.57%.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction 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 sale, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.46% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ABT shares. Sanford C. Bernstein raised their price target on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Daiwa Capital Markets raised their price target on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Raymond James Financial increased their target price on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Evercore ISI cut their target price on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. Finally, Morgan Stanley raised their price target on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Abbott Laboratories currently 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.