Beacon Pointe Advisors LLC Has $32.56 Million Stock Holdings in Abbott Laboratories $ABT

Beacon Pointe Advisors LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 7.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 239,421 shares of the healthcare product maker’s stock after purchasing an additional 16,047 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Abbott Laboratories were worth $32,564,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tortoise Investment Management LLC increased its position in shares of Abbott Laboratories by 10.7% in the second quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock worth $108,000 after acquiring an additional 77 shares in the last quarter. FF Advisors LLC lifted its position in shares of Abbott Laboratories by 4.3% in the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock valued at $259,000 after acquiring an additional 79 shares in the last quarter. Charles Schwab Trust Co boosted its stake in Abbott Laboratories by 0.6% in the 2nd 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 period. Bridgewater Advisors Inc. grew its position in Abbott Laboratories by 0.6% during the 2nd quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock worth $1,607,000 after purchasing an additional 79 shares in the last quarter. Finally, Lcnb Corp raised its position in Abbott Laboratories by 0.5% during the first quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker’s stock valued at $2,111,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Barclays boosted their target price on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. BTIG Research restated a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a research note on Thursday, November 20th. Finally, Benchmark began coverage on Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 target price on the stock. 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $128.11 on Tuesday. 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 business’s fifty day moving average price is $129.23 and its two-hundred day moving average price is $131.04. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The stock has a market capitalization of $222.77 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th were paid a $0.59 dividend. The ex-dividend date was Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend 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.