Abbott Laboratories $ABT Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC cut its position in Abbott Laboratories (NYSE:ABT) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,026,086 shares of the healthcare product maker’s stock after selling 31,066 shares during the quarter. Abbott Laboratories comprises 1.8% of Bartlett & CO. Wealth Management LLC’s holdings, making the stock its 12th biggest position. Bartlett & CO. Wealth Management LLC owned approximately 0.06% of Abbott Laboratories worth $137,434,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ABT. IMG Wealth Management Inc. lifted its holdings in Abbott Laboratories by 759.1% in the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. Anfield Capital Management LLC boosted its position in Abbott Laboratories by 81.3% during the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Delos Wealth Advisors LLC bought a new stake in Abbott Laboratories in the second quarter worth approximately $32,000. Curio Wealth LLC boosted its stake in shares of Abbott Laboratories by 15,250.0% during the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after acquiring an additional 305 shares in the last quarter. Finally, Pineridge Advisors LLC boosted its holdings in shares of Abbott Laboratories by 34.6% during the 2nd quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock worth $43,000 after buying an additional 81 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $125.45 on Friday. The firm has a market cap of $218.13 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 2.28 and a beta of 0.72. The stock’s fifty day moving average price is $126.77 and its two-hundred day moving average price is $130.27. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. The company had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.Abbott Laboratories’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 15th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Analysts Set New Price Targets

Several research firms recently weighed in on ABT. Barclays increased their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. BTIG Research restated a “buy” rating and set a $145.00 target price on shares of Abbott Laboratories in a research report on Thursday, November 20th. Benchmark began coverage on Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective for the company. Sanford C. Bernstein lifted their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Finally, Jefferies Financial Group increased their target price on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.