Putney Financial Group LLC Purchases 84 Shares of Abbott Laboratories $ABT

Putney Financial Group LLC raised its position in shares of Abbott Laboratories (NYSE:ABT) by 14.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 649 shares of the healthcare product maker’s stock after purchasing an additional 84 shares during the period. Putney Financial Group LLC’s holdings in Abbott Laboratories were worth $88,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mesirow Financial Investment Management Inc. grew its position in Abbott Laboratories by 0.8% in the second quarter. Mesirow Financial Investment Management Inc. now owns 169,478 shares of the healthcare product maker’s stock valued at $23,051,000 after acquiring an additional 1,388 shares during the last quarter. Aljian Capital Management LLC increased its holdings in shares of Abbott Laboratories by 13.0% during the second quarter. Aljian Capital Management LLC now owns 3,520 shares of the healthcare product maker’s stock worth $479,000 after buying an additional 405 shares in the last quarter. Simon Quick Advisors LLC grew its position in Abbott Laboratories by 18.3% during the 2nd quarter. Simon Quick Advisors LLC now owns 28,661 shares of the healthcare product maker’s stock worth $3,898,000 after acquiring an additional 4,430 shares during the last quarter. Ledyard National Bank raised its position in Abbott Laboratories by 1.4% in the second quarter. Ledyard National Bank now owns 17,968 shares of the healthcare product maker’s stock valued at $2,444,000 after purchasing an additional 247 shares during the last quarter. Finally, Coign Capital Advisors LLC raised its holdings in Abbott Laboratories by 2.7% in the 2nd quarter. Coign Capital Advisors LLC now owns 4,276 shares of the healthcare product maker’s stock valued at $582,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction that occurred 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 owned 51,003 shares of the company’s stock, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Up 0.2%

ABT opened at $124.62 on Friday. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. 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 company’s 50-day moving average is $131.63 and its 200 day moving average is $131.59. The firm has a market capitalization of $216.89 billion, a P/E ratio of 15.62, a PEG ratio of 2.36 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.Abbott Laboratories’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the business posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Research analysts expect 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 will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Mizuho raised their target price on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Benchmark began coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They set a “buy” rating and a $145.00 target price for the company. Daiwa Capital Markets lifted their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group lifted their target price on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, Wells Fargo & Company increased their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

About Abbott Laboratories

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.