NewEdge Advisors LLC Has $23.30 Million Stock Holdings in Abbott Laboratories $ABT

Key Points

• NewEdge Advisors LLC increased its position in Abbott Laboratories by 2.2%, owning 175,634 shares valued at approximately $23.30 million at the end of the latest quarter.
• Abbott Laboratories reported a quarterly EPS of $1.26, meeting consensus estimates, with revenue of $11.14 billion and a year-over-year revenue increase of 7.4%.
• Wall Street analysts have raised their price targets for Abbott Laboratories, with a consensus price target now at $144.47, indicating a favorable outlook for the company's stock.

NewEdge Advisors LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 175,634 shares of the healthcare product maker's stock after acquiring an additional 3,808 shares during the quarter. NewEdge Advisors LLC's holdings in Abbott Laboratories were worth $23,298,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. Cim LLC lifted its stake in Abbott Laboratories by 0.4% in the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock worth $1,919,000 after purchasing an additional 73 shares in the last quarter. Consilium Wealth Advisory LLC lifted its stake in Abbott Laboratories by 2.1% in the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock worth $507,000 after purchasing an additional 78 shares in the last quarter. Mayflower Financial Advisors LLC increased its holdings in shares of Abbott Laboratories by 0.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock worth $2,298,000 after buying an additional 78 shares during the last quarter. Opes Wealth Management LLC increased its holdings in shares of Abbott Laboratories by 2.9% during the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock worth $379,000 after buying an additional 80 shares during the last quarter. Finally, Lcnb Corp increased its holdings in shares of Abbott Laboratories by 0.5% during the 1st quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker's stock worth $2,111,000 after buying an additional 80 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

NYSE:ABT traded down $0.16 during mid-day trading on Tuesday, hitting $132.04. The stock had a trading volume of 4,640,557 shares, compared to its average volume of 4,897,299. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The stock has a market capitalization of $229.81 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 2.51 and a beta of 0.69. The company has a 50 day simple moving average of $130.60 and a 200-day simple moving average of $131.36. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the firm earned $1.14 EPS. Abbott Laboratories's revenue was up 7.4% on a year-over-year basis. 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, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were given a dividend of $0.59 per share. 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 presently 29.57%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Wells Fargo & Company decreased their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Mizuho raised their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and raised their price target for the company from $143.00 to $145.00 in a research report on Friday, July 18th. Finally, Raymond James Financial decreased their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $144.47.

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.