Shelton Wealth Management LLC Increases Stock Position in Abbott Laboratories $ABT

Key Points

• Shelton Wealth Management LLC increased its holdings in Abbott Laboratories by 379.1% in the second quarter, purchasing an additional 7,552 shares, bringing its total to 9,544 shares valued at approximately $1.3 million.
• Abbott Laboratories reported $1.26 EPS for the last quarter, meeting consensus estimates, with revenue of $11.14 billion, up 7.4% from the previous year, indicating strong performance.
• The company declared a quarterly dividend of $0.59 per share, set to be paid on November 17th, contributing to an annualized yield of 1.7%.

Shelton Wealth Management LLC boosted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 379.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,544 shares of the healthcare product maker's stock after buying an additional 7,552 shares during the period. Shelton Wealth Management LLC's holdings in Abbott Laboratories were worth $1,298,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ABT. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories during the first quarter valued at about $27,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories during the first quarter valued at about $28,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories during the first quarter valued at about $30,000. Wormser Freres Gestion acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at about $32,000. Finally, JCIC Asset Management Inc. acquired a new position in shares of Abbott Laboratories during the first quarter valued at about $32,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ABT. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and upped their price objective for the company from $143.00 to $145.00 in a report on Friday, July 18th. Evercore ISI upped their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada boosted their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of "Moderate Buy" and an average target price of $145.22.

Abbott Laboratories Stock Up 0.6%

ABT stock traded up $0.78 during trading on Monday, reaching $136.82. The stock had a trading volume of 4,837,007 shares, compared to its average volume of 6,659,060. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. 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 $130.47 and its two-hundred day moving average is $131.12. The company has a market capitalization of $238.13 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 2.58 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (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 business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the firm posted $1.14 EPS. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio is currently 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.