Wealthstream Advisors Inc. Buys Shares of 2,040 Abbott Laboratories $ABT

Key Points

• Wealthstream Advisors Inc. purchased 2,040 shares of Abbott Laboratories, valued at approximately $277,000, during the second quarter.
• Several institutional investors have recently increased their stakes in Abbott Laboratories, resulting in their ownership reaching 75.18% of the company's stock.
• Abbott Laboratories reported a quarterly revenue of $11.37 billion, with an EPS of $1.30 for the quarter, meeting consensus estimates.

Wealthstream Advisors Inc. bought a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,040 shares of the healthcare product maker's stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABT. Brighton Jones LLC grew its holdings in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after buying an additional 4,755 shares during the period. GAMMA Investing LLC grew its holdings in Abbott Laboratories by 17.0% in the 1st 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 period. ORG Partners LLC grew its holdings in Abbott Laboratories by 41.6% in the 1st quarter. ORG Partners LLC now owns 3,078 shares of the healthcare product maker's stock valued at $408,000 after buying an additional 904 shares during the period. Segment Wealth Management LLC grew its holdings in Abbott Laboratories by 65.7% in the 1st quarter. Segment Wealth Management LLC now owns 7,306 shares of the healthcare product maker's stock valued at $969,000 after buying an additional 2,897 shares during the period. Finally, Advisor Resource Council purchased a new stake in Abbott Laboratories in the 1st quarter valued at about $334,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on ABT. Benchmark began coverage on Abbott Laboratories in a report on Friday, October 10th. They issued a "buy" rating and a $145.00 price target for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. BTIG Research reiterated a "buy" rating and set a $145.00 target price on shares of Abbott Laboratories in a report on Wednesday. Royal Bank Of Canada reiterated an "outperform" rating and set a $147.00 target price on shares of Abbott Laboratories in a report on Thursday. Finally, Mizuho boosted their target price on Abbott Laboratories from $135.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $147.61.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $128.69 on Friday. The stock's 50 day moving average price is $132.38 and its 200 day moving average price is $131.54. The firm has a market capitalization of $223.98 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate of $1.30. The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.Abbott Laboratories's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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 given a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories's payout ratio is 29.57%.

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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