Three Bridge Wealth Advisors LLC Invests $263,000 in Abbott Laboratories $ABT

Key Points

• Three Bridge Wealth Advisors LLC invested approximately $263,000 in Abbott Laboratories, acquiring 1,937 shares during the second quarter.
• Abbott Laboratories reported $1.26 earnings per share for the recent quarter, meeting analysts' expectations, and recorded a net margin of 32.43%.
• The company declared a quarterly dividend of $0.59 per share, reflecting an annualized dividend yield of 1.8%.

Three Bridge Wealth Advisors LLC bought a new position in Abbott Laboratories (NYSE:ABT - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 1,937 shares of the healthcare product maker's stock, valued at approximately $263,000.

A number of other large investors have also recently made changes to their positions in ABT. Hughes Financial Services LLC bought a new position in Abbott Laboratories during the 1st quarter valued at about $27,000. Abound Financial LLC bought a new position in Abbott Laboratories during the 1st quarter valued at about $28,000. Elequin Capital LP bought a new position in Abbott Laboratories during the 1st quarter valued at about $30,000. JCIC Asset Management Inc. bought a new position in Abbott Laboratories during the 1st quarter valued at about $32,000. Finally, Vision Financial Markets LLC bought a new position in Abbott Laboratories during the 1st quarter valued at about $33,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Up 1.1%

Shares of ABT stock opened at $134.49 on Friday. The stock has a market cap of $234.07 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 2.55 and a beta of 0.69. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The firm's 50 day moving average price is $131.94 and its two-hundred day moving average price is $131.36.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share 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%. Abbott Laboratories's revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.14 earnings per share. 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, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

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

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction 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 owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

ABT has been the topic of a number of research analyst reports. Evercore ISI upped their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Morgan Stanley increased their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Leerink Partners assumed coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective on the stock. Mizuho increased their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Abbott Laboratories in a research note on Saturday, September 27th. Two 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $145.39.

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.

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