Destiny Wealth Partners LLC Takes $211,000 Position in Abbott Laboratories $ABT

Destiny Wealth Partners LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,555 shares of the healthcare product maker’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABT. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter worth $27,000. Abound Financial LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter worth about $28,000. Elequin Capital LP purchased a new position in shares of Abbott Laboratories in the 1st quarter worth about $30,000. JCIC Asset Management Inc. purchased a new stake in Abbott Laboratories during the first quarter valued at about $32,000. Finally, Vision Financial Markets LLC purchased a new stake in Abbott Laboratories during the first quarter valued at about $33,000. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Down 0.4%

ABT stock opened at $133.38 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $130.94 and its 200 day moving average is $131.14. The stock has a market cap of $232.13 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting the consensus estimate of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. Abbott Laboratories’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is 29.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ABT shares. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Royal Bank Of Canada upped their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Leerink Partners began coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 price target on the stock. Finally, Raymond James Financial decreased their price target on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.22.

About Abbott Laboratories

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.