Wellspring Financial Advisors LLC Has $263,000 Stock Holdings in Abbott Laboratories $ABT

Wellspring Financial Advisors LLC grew its stake in Abbott Laboratories (NYSE:ABT) by 27.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,933 shares of the healthcare product maker’s stock after buying an additional 411 shares during the period. Wellspring Financial Advisors LLC’s holdings in Abbott Laboratories were worth $263,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Tortoise Investment Management LLC lifted its position in Abbott Laboratories by 10.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock worth $108,000 after acquiring an additional 77 shares during the last quarter. FF Advisors LLC increased its stake in shares of Abbott Laboratories by 4.3% in the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after purchasing an additional 79 shares during the period. Charles Schwab Trust Co lifted its position in shares of Abbott Laboratories by 0.6% during the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after purchasing an additional 79 shares during the last quarter. Bridgewater Advisors Inc. grew its holdings in Abbott Laboratories by 0.6% in the 2nd quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock valued at $1,607,000 after buying an additional 79 shares during the last quarter. Finally, Lcnb Corp grew its stake in shares of Abbott Laboratories by 0.5% in the first quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker’s stock worth $2,111,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

ABT has been the topic of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. Evercore ISI reduced their price objective on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Benchmark initiated coverage on shares of 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 upped their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, The Goldman Sachs Group increased their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Two investment 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Trading Down 0.6%

ABT opened at $128.11 on Tuesday. The company has a 50-day simple moving average of $129.23 and a 200 day simple moving average of $131.04. The stock has a market capitalization of $222.77 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 2.36 and a beta of 0.71. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate of $1.30. The firm 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%.The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Analysts predict 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 was paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Wednesday, October 15th. Abbott Laboratories’s payout ratio is presently 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.