Ballast Advisors LLC Buys 95 Shares of Abbott Laboratories $ABT

Ballast Advisors LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,922 shares of the healthcare product maker’s stock after purchasing an additional 95 shares during the quarter. Ballast Advisors LLC’s holdings in Abbott Laboratories were worth $261,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Mayflower Financial Advisors LLC grew its holdings in shares of Abbott Laboratories by 0.5% during the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock worth $2,298,000 after purchasing an additional 78 shares in the last quarter. FF Advisors LLC grew its holdings in shares of Abbott Laboratories by 4.3% during the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after purchasing an additional 79 shares in the last quarter. Charles Schwab Trust Co grew its holdings in shares of Abbott Laboratories by 0.6% during the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after purchasing an additional 79 shares in the last quarter. Opes Wealth Management LLC grew its holdings in shares of Abbott Laboratories by 2.9% during the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock worth $379,000 after purchasing an additional 80 shares in the last quarter. Finally, Lcnb Corp grew its holdings in shares of Abbott Laboratories by 0.5% during the first quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker’s stock worth $2,111,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

ABT opened at $126.78 on Friday. 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 52-week low of $110.86 and a 52-week high of $141.23. The stock has a market capitalization of $220.65 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 2.41 and a beta of 0.69. The stock’s 50 day moving average price is $132.09 and its 200-day moving average price is $131.61.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The company had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The firm’s revenue 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 research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company 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 is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories’s payout ratio is currently 29.57%.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business’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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

ABT has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Friday. Barclays boosted their target price on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Sanford C. Bernstein boosted their target price on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Benchmark began coverage on Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 price target on the stock. Finally, BTIG Research reaffirmed a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a research note on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target 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.