GRIMES & Co WEALTH MANAGEMENT LLC Purchases 10,635 Shares of Abbott Laboratories $ABT

GRIMES & Co WEALTH MANAGEMENT LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT) by 17.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,424 shares of the healthcare product maker’s stock after acquiring an additional 10,635 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Abbott Laboratories were worth $9,433,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ABT shares. Barclays increased their price objective on Abbott Laboratories from $162.00 to $169.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Mizuho increased their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Royal Bank Of Canada restated an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 16th. Benchmark assumed coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 target price for the company. Finally, The Goldman Sachs Group boosted their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.68.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $124.63 on Tuesday. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The stock has a market capitalization of $216.72 billion, a P/E ratio of 15.62, a P/E/G ratio of 2.09 and a beta of 0.72. The company’s 50-day moving average is $126.15 and its 200 day moving average is $129.24. 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 data 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 17.60% and a net margin of 31.88%.The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same period in the previous year, the firm posted $1.21 EPS. The business’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, sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

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

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.