TRUE Private Wealth Advisors Raises Position in Abbott Laboratories $ABT

TRUE Private Wealth Advisors raised its position in Abbott Laboratories (NYSE:ABT) by 22.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,208 shares of the healthcare product maker’s stock after buying an additional 941 shares during the period. TRUE Private Wealth Advisors’ holdings in Abbott Laboratories were worth $708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC raised its stake in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after purchasing an additional 4,755 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Abbott Laboratories by 252.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 42,933 shares of the healthcare product maker’s stock valued at $5,695,000 after acquiring an additional 30,748 shares in the last quarter. Ignite Planners LLC increased its stake in Abbott Laboratories by 6.3% during the first quarter. Ignite Planners LLC now owns 4,742 shares of the healthcare product maker’s stock valued at $621,000 after purchasing an additional 280 shares during the last quarter. Hartford Funds Management Co LLC raised its holdings in shares of Abbott Laboratories by 33.4% during the first quarter. Hartford Funds Management Co LLC now owns 6,521 shares of the healthcare product maker’s stock worth $865,000 after purchasing an additional 1,634 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at about $245,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ABT. Barclays upped their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Sanford C. Bernstein lifted their target price on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. The Goldman Sachs Group increased their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Daiwa Capital Markets raised their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Finally, Wells Fargo & Company raised their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report 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 given a Hold rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Trading Up 0.4%

NYSE:ABT opened at $130.59 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $130.30 and its 200-day moving average is $131.33. The firm has a market cap of $227.08 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share 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 during the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the previous year, the business earned $1.21 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

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.