RD Lewis Holdings Inc. Acquires 716 Shares of Abbott Laboratories $ABT

RD Lewis Holdings Inc. increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 6.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,322 shares of the healthcare product maker’s stock after buying an additional 716 shares during the quarter. Abbott Laboratories accounts for about 1.5% of RD Lewis Holdings Inc.’s holdings, making the stock its 28th biggest holding. RD Lewis Holdings Inc.’s holdings in Abbott Laboratories were worth $1,495,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cowa LLC grew its holdings in shares of Abbott Laboratories by 9.9% during the 2nd quarter. Cowa LLC now owns 4,521 shares of the healthcare product maker’s stock valued at $615,000 after purchasing an additional 407 shares during the last quarter. Stevens Capital Management LP acquired a new stake in Abbott Laboratories in the second quarter valued at approximately $532,000. AlphaCore Capital LLC grew its stake in shares of Abbott Laboratories by 61.6% during the second quarter. AlphaCore Capital LLC now owns 7,114 shares of the healthcare product maker’s stock worth $968,000 after buying an additional 2,713 shares during the last quarter. Mufg Securities Americas Inc. increased its holdings in shares of Abbott Laboratories by 25.6% during the second quarter. Mufg Securities Americas Inc. now owns 38,560 shares of the healthcare product maker’s stock worth $5,245,000 after buying an additional 7,858 shares in the last quarter. Finally, Dundas Partners LLP lifted its stake in shares of Abbott Laboratories by 7.7% in the 2nd quarter. Dundas Partners LLP now owns 371,715 shares of the healthcare product maker’s stock valued at $50,557,000 after acquiring an additional 26,666 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ABT shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. Wells Fargo & Company boosted their price target on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Evercore ISI dropped their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Benchmark began coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 target price on the stock. Finally, Barclays upped their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $127.97 on Friday. The firm has a market cap of $222.52 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.36 and a beta of 0.68. The stock’s 50 day moving average is $129.95 and its 200 day moving average is $131.22. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

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

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories’s dividend payout ratio is 29.57%.

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.