Osprey Private Wealth LLC Purchases New Shares in Abbott Laboratories $ABT

Osprey Private Wealth LLC purchased a new position in Abbott Laboratories (NYSE:ABT) during the third quarter, Holdings Channel.com reports. The firm purchased 6,515 shares of the healthcare product maker’s stock, valued at approximately $873,000.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Abbott Laboratories by 1.8% during the second quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock valued at $23,502,644,000 after acquiring an additional 2,977,715 shares during the period. State Street Corp grew its position in Abbott Laboratories by 0.9% during the 2nd quarter. State Street Corp now owns 78,354,270 shares of the healthcare product maker’s stock worth $10,656,964,000 after purchasing an additional 689,517 shares in the last quarter. Geode Capital Management LLC raised its stake in Abbott Laboratories by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 38,293,067 shares of the healthcare product maker’s stock valued at $5,184,589,000 after purchasing an additional 1,390,554 shares during the period. Norges Bank purchased a new stake in shares of Abbott Laboratories in the second quarter valued at $3,026,180,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Abbott Laboratories by 0.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 13,177,029 shares of the healthcare product maker’s stock worth $1,792,209,000 after buying an additional 68,613 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

NYSE ABT opened at $126.63 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $220.19 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 2.31 and a beta of 0.72. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The company has a 50 day moving average price of $127.07 and a two-hundred day moving average price of $130.36.

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

Abbott Laboratories Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Benchmark assumed coverage on Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 price target on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday. Barclays boosted their price objective 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. Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 price target 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’s stock. According to data from MarketBeat, the stock 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.