TruWealth Advisors LLC Has $353,000 Stock Position in Abbott Laboratories $ABT

TruWealth Advisors LLC trimmed its stake in Abbott Laboratories (NYSE:ABT) by 97.6% in the third quarter, HoldingsChannel.com reports. The firm owned 2,636 shares of the healthcare product maker’s stock after selling 109,352 shares during the period. TruWealth Advisors LLC’s holdings in Abbott Laboratories were worth $353,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. IMG Wealth Management Inc. raised its position in shares of Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 167 shares during the last quarter. Elequin Capital LP bought a new stake in Abbott Laboratories in the first quarter valued at approximately $30,000. Anfield Capital Management LLC increased its position in Abbott Laboratories by 81.3% during the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Delos Wealth Advisors LLC bought a new position in Abbott Laboratories during the 2nd quarter worth approximately $32,000. Finally, Curio Wealth LLC lifted its position in shares of Abbott Laboratories by 15,250.0% in the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after purchasing an additional 305 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 2.5%

Abbott Laboratories stock opened at $128.58 on Tuesday. The firm has a market capitalization of $223.58 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The firm’s fifty day moving average price is $127.35 and its two-hundred day moving average price is $130.44.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The business had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. Abbott Laboratories’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. On average, equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. Abbott Laboratories’s payout ratio is 29.57%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ABT. Mizuho increased their price objective on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Jefferies Financial Group increased their price target on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Raymond James Financial lifted their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Wells Fargo & Company upped their target price on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.