Adell Harriman & Carpenter Inc. Purchases 1,264 Shares of Abbott Laboratories $ABT

Adell Harriman & Carpenter Inc. grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 10.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,581 shares of the healthcare product maker’s stock after buying an additional 1,264 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Abbott Laboratories were worth $1,847,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. IMG Wealth Management Inc. grew its holdings in Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 167 shares during the period. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $27,000. Abound Financial LLC bought a new position in Abbott Laboratories during the 1st quarter valued at approximately $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories during the first quarter valued at $30,000. Finally, Vision Financial Markets LLC bought a new stake in Abbott Laboratories in the first quarter worth $33,000. 75.18% of the stock is currently owned by institutional investors.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction on Friday, August 8th. The stock was 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 in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.46% of the stock is owned by company insiders.

Abbott Laboratories Stock Performance

ABT stock opened at $124.42 on Thursday. The company has a market cap of $216.55 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 2.40 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The stock’s fifty day moving average price is $131.78 and its 200-day moving average price is $131.64.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same period last year, the firm posted $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. On average, equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. Abbott Laboratories’s payout ratio is presently 29.57%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Mizuho lifted their price target on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Benchmark assumed coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They set a “buy” rating and a $145.00 price objective for the company. Morgan Stanley upped 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 note on Tuesday, July 15th. Daiwa Capital Markets raised their price target on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Jefferies Financial Group increased their target price on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $147.00.

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.