Ashton Thomas Private Wealth LLC Purchases 2,081 Shares of Abbott Laboratories $ABT

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in Abbott Laboratories by 4.5%, acquiring an additional 2,081 shares, bringing its total holdings to 47,884 shares valued at approximately $6.35 million.
• Abbott Laboratories has seen significant interest from institutional investors, with hedge funds owning 75.18% of its stock, and notable increases in stakes by several firms during the first quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Abbott Laboratories, with a price target averaging around $144.47, indicating expected growth in the company's stock value.

Ashton Thomas Private Wealth LLC grew its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,884 shares of the healthcare product maker's stock after buying an additional 2,081 shares during the period. Ashton Thomas Private Wealth LLC's holdings in Abbott Laboratories were worth $6,352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Kestra Investment Management LLC grew its stake in Abbott Laboratories by 50.7% in the 1st quarter. Kestra Investment Management LLC now owns 1,775 shares of the healthcare product maker's stock worth $235,000 after buying an additional 597 shares in the last quarter. Scientech Research LLC purchased a new position in Abbott Laboratories in the 1st quarter worth approximately $1,026,000. Sepio Capital LP grew its stake in Abbott Laboratories by 11.4% in the 1st quarter. Sepio Capital LP now owns 240,652 shares of the healthcare product maker's stock worth $31,923,000 after buying an additional 24,577 shares in the last quarter. Rise Advisors LLC grew its stake in Abbott Laboratories by 10.8% in the 1st quarter. Rise Advisors LLC now owns 1,275 shares of the healthcare product maker's stock worth $169,000 after buying an additional 124 shares in the last quarter. Finally, Ruggaard & Associates LLC grew its stake in Abbott Laboratories by 19.1% in the 1st quarter. Ruggaard & Associates LLC now owns 3,033 shares of the healthcare product maker's stock worth $402,000 after buying an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ABT shares. 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 research note on Tuesday, July 15th. Mizuho lifted their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and raised their price objective for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Evercore ISI raised their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, BTIG Research reduced their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the transaction, the chief financial officer owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $132.92 on Monday. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The stock has a market cap of $231.33 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. 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 fifty day moving average price is $130.68 and its 200-day moving average price is $131.38.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts' consensus estimates of $1.26. The firm 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%. The company's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories's payout ratio is 29.57%.

Abbott Laboratories Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.