Modern Wealth Management LLC Has $6.67 Million Holdings in Abbott Laboratories $ABT

Modern Wealth Management LLC boosted its position in Abbott Laboratories (NYSE:ABT) by 9.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,015 shares of the healthcare product maker’s stock after buying an additional 4,136 shares during the period. Modern Wealth Management LLC’s holdings in Abbott Laboratories were worth $6,666,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Humankind Investments LLC increased its position in Abbott Laboratories by 32.5% in the 2nd quarter. Humankind Investments LLC now owns 16,808 shares of the healthcare product maker’s stock valued at $2,286,000 after buying an additional 4,126 shares in the last quarter. ICONIQ Capital LLC grew its stake in Abbott Laboratories by 4.8% in the second quarter. ICONIQ Capital LLC now owns 11,319 shares of the healthcare product maker’s stock valued at $1,539,000 after acquiring an additional 521 shares during the period. Great Valley Advisor Group Inc. increased its holdings in shares of Abbott Laboratories by 13.8% during the second quarter. Great Valley Advisor Group Inc. now owns 31,256 shares of the healthcare product maker’s stock valued at $4,251,000 after acquiring an additional 3,781 shares in the last quarter. Gallagher Fiduciary Advisors LLC raised its position in shares of Abbott Laboratories by 5.6% during the second quarter. Gallagher Fiduciary Advisors LLC now owns 4,746 shares of the healthcare product maker’s stock worth $646,000 after purchasing an additional 250 shares during the period. Finally, Elevatus Welath Management lifted its holdings in shares of Abbott Laboratories by 1,240.3% in the 2nd quarter. Elevatus Welath Management now owns 20,627 shares of the healthcare product maker’s stock worth $2,806,000 after purchasing an additional 19,088 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of ABT opened at $125.47 on Friday. The stock has a 50 day moving average of $127.45 and a 200 day moving average of $130.49. 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 12 month low of $110.86 and a 12 month high of $141.23. The company has a market capitalization of $218.17 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 2.25 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 17.60% and a net margin of 31.88%.The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Wednesday, October 15th. Abbott Laboratories’s payout ratio is presently 29.57%.

Wall Street Analyst Weigh In

ABT has been the topic of several research reports. Daiwa Capital Markets upped their price objective 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. The Goldman Sachs Group raised their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Mizuho boosted their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a report on Thursday, November 20th. Finally, Jefferies Financial Group upped 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. Two 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’s stock. According to MarketBeat.com, the company 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.