Topsail Wealth Management LLC Buys 110 Shares of Abbott Laboratories $ABT

Topsail Wealth Management LLC increased its stake in Abbott Laboratories (NYSE:ABT) by 3.1% during the 2nd quarter, Holdings Channel reports. The firm owned 3,616 shares of the healthcare product maker’s stock after purchasing an additional 110 shares during the quarter. Topsail Wealth Management LLC’s holdings in Abbott Laboratories were worth $492,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Mayflower Financial Advisors LLC increased its position in shares of Abbott Laboratories by 0.5% in 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 during the last quarter. FF Advisors LLC increased its position in shares of Abbott Laboratories by 4.3% in 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 during the last quarter. Charles Schwab Trust Co increased its position in shares of Abbott Laboratories by 0.6% in 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 during the last quarter. Opes Wealth Management LLC increased its position in shares of Abbott Laboratories by 2.9% in 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 during the last quarter. Finally, Lcnb Corp increased its position in shares of Abbott Laboratories by 0.5% in 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 during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ABT. Morgan Stanley increased their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Raymond James Financial increased their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Benchmark began coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 price target on the stock. BTIG Research reiterated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Friday. Two 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 stock. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the sale, the chief financial officer owned 51,003 shares in the company, valued at $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 is available at this link. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $126.78 on Friday. The firm has a market cap 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. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The business has a 50 day moving average price of $132.09 and a 200-day moving average price of $131.61.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.30. The firm had revenue of $11.37 billion during 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%.The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current 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 issued a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.9%. Abbott Laboratories’s payout ratio is 29.57%.

About Abbott Laboratories

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.