Turtle Creek Wealth Advisors LLC Boosts Holdings in Abbott Laboratories $ABT

Key Points

• Turtle Creek Wealth Advisors LLC increased its stake in Abbott Laboratories by 16.7%, now holding 18,989 shares valued at approximately $2.58 million.
• Abbott Laboratories reported quarterly earnings of $1.30 per share, matching analysts' expectations, with a year-over-year revenue increase of 6.9%.
• The company declared a quarterly dividend of $0.59 per share, representing an annualized dividend yield of 1.8%.

Turtle Creek Wealth Advisors LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 16.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,989 shares of the healthcare product maker's stock after purchasing an additional 2,716 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in Abbott Laboratories were worth $2,583,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Brighton Jones LLC lifted its holdings in Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after purchasing an additional 4,755 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Abbott Laboratories by 17.0% in the first quarter. GAMMA Investing LLC now owns 38,467 shares of the healthcare product maker's stock valued at $5,103,000 after buying an additional 5,590 shares during the last quarter. Hemenway Trust Co LLC raised its position in shares of Abbott Laboratories by 4.1% in the first quarter. Hemenway Trust Co LLC now owns 372,188 shares of the healthcare product maker's stock valued at $49,371,000 after buying an additional 14,775 shares during the last quarter. Cushing Capital Partners LLC acquired a new stake in shares of Abbott Laboratories in the first quarter valued at about $804,000. Finally, Shepherd Financial Partners LLC raised its position in shares of Abbott Laboratories by 4.5% in the first quarter. Shepherd Financial Partners LLC now owns 3,080 shares of the healthcare product maker's stock valued at $408,000 after buying an additional 132 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $129.35 on Thursday. 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 $225.13 billion, a P/E ratio of 16.21, a PEG ratio of 2.53 and a beta of 0.69. The company has a 50-day moving average price of $132.59 and a 200 day moving average price of $131.60. 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 announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting analysts' consensus estimates of $1.30. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.37 billion during the quarter, compared to analysts' expectations of $11.40 billion. During the same period last year, the business earned $1.21 earnings per share. The business's revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction dated 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 sale, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ABT has been the subject of a number of recent research reports. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and increased their target price for the company from $143.00 to $145.00 in a research report on Friday, July 18th. BTIG Research reduced their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Raymond James Financial reduced their target price 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. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada raised their price objective 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. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $146.17.

Abbott Laboratories 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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