Chicago Partners Investment Group LLC Has $8.40 Million Holdings in Abbott Laboratories $ABT

Key Points

• Chicago Partners Investment Group LLC increased its holdings in Abbott Laboratories by 75.0% during the second quarter, owning 66,735 shares valued at approximately $8.4 million.
• Analyst ratings for Abbott Laboratories have been positive, with several firms raising their price targets, reflecting a consensus average target price of $147.61.
• Abbott Laboratories announced a quarterly dividend of $0.59 per share, resulting in an annualized yield of 1.8% and a dividend payout ratio of 29.57%.

Chicago Partners Investment Group LLC grew its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 75.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,735 shares of the healthcare product maker's stock after purchasing an additional 28,597 shares during the period. Chicago Partners Investment Group LLC's holdings in Abbott Laboratories were worth $8,397,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ABT. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories during the first quarter valued at $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories in the first quarter valued at about $30,000. JCIC Asset Management Inc. acquired a new position in Abbott Laboratories in the 1st quarter worth about $32,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter worth about $33,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on ABT shares. Raymond James Financial boosted their price target on Abbott Laboratories from $141.00 to $146.00 and gave the company an "outperform" rating in a research note on Thursday. Mizuho boosted their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 14th. Wells Fargo & Company raised 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. Evercore ISI reduced their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, BTIG Research reissued a "buy" rating and set a $145.00 target price on shares of Abbott Laboratories in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Abbott Laboratories currently has an average rating of "Moderate Buy" and an average target price of $147.61.

Abbott Laboratories Trading Up 0.8%

Shares of NYSE:ABT opened at $128.69 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The stock's 50-day moving average is $132.38 and its 200-day moving average is $131.54. The company has a market cap of $223.98 billion, a P/E ratio of 16.13, a P/E/G ratio of 2.44 and a beta of 0.69. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting the consensus estimate of $1.30. The business had revenue of $11.37 billion during the quarter, compared to analysts' expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm's revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently owned by insiders.

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.

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