Beta Wealth Group Inc. Acquires 800 Shares of Abbott Laboratories $ABT

Beta Wealth Group Inc. lifted its holdings in Abbott Laboratories (NYSE:ABT) by 33.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,204 shares of the healthcare product maker’s stock after purchasing an additional 800 shares during the quarter. Beta Wealth Group Inc.’s holdings in Abbott Laboratories were worth $436,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. IMG Wealth Management Inc. lifted its position in 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 in the last quarter. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories in the first quarter valued at about $30,000. Vision Financial Markets LLC bought a new stake in Abbott Laboratories during the first quarter worth about $33,000. Accent Capital Management LLC acquired a new position in Abbott Laboratories during the first quarter valued at approximately $38,000. Finally, Curio Wealth LLC boosted its position in Abbott Laboratories by 15,250.0% during the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after purchasing an additional 305 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 1.0%

Shares of ABT opened at $130.59 on Friday. The firm’s 50-day simple moving average is $130.38 and its 200 day simple moving average is $131.35. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The firm has a market cap of $227.08 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. The company had revenue of $11.37 billion for 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%.The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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 given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s payout ratio is presently 29.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ABT shares. BTIG Research reiterated a “buy” rating and set a $145.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, October 15th. Raymond James Financial boosted their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Sanford C. Bernstein increased their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Company 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.