Sax Wealth Advisors LLC Acquires 770 Shares of Abbott Laboratories $ABT

Sax Wealth Advisors LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 12.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,872 shares of the healthcare product maker’s stock after buying an additional 770 shares during the period. Sax Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $935,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Abbott Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker’s stock valued at $22,527,039,000 after purchasing an additional 1,177,739 shares in the last quarter. Wellington Management Group LLP increased its stake in Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after purchasing an additional 3,371,113 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock valued at $2,120,516,000 after purchasing an additional 3,616,471 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Abbott Laboratories by 12.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock valued at $1,916,966,000 after purchasing an additional 1,639,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Abbott Laboratories by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker’s stock valued at $1,738,831,000 after purchasing an additional 168,095 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent analyst reports. Raymond James Financial lowered 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 note on Friday, July 18th. Morgan Stanley upped their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. The Goldman Sachs Group upped their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Leerink Partners started coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a “market perform” rating and a $143.00 price target for the company. Finally, Wells Fargo & Company reduced their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.24.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is owned by insiders.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $134.45 on Thursday. The stock has a market cap of $234.00 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.52 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. The company has a fifty day moving average price of $132.30 and a two-hundred day moving average price of $131.48. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts’ consensus estimates of $1.26. The firm had revenue of $11.14 billion during 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%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last 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. As a group, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

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.