Cerro Pacific Wealth Advisors LLC Has $2.73 Million Stock Holdings in Abbott Laboratories $ABT

Cerro Pacific Wealth Advisors LLC increased its holdings in Abbott Laboratories (NYSE:ABT) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,085 shares of the healthcare product maker’s stock after purchasing an additional 253 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $2,732,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth approximately $27,000. Abound Financial LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth approximately $28,000. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories during the first quarter worth approximately $30,000. JCIC Asset Management Inc. acquired a new stake in shares of Abbott Laboratories during the first quarter worth approximately $32,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of several recent analyst reports. Mizuho raised their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday. The Goldman Sachs Group increased their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Jefferies Financial Group raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and increased their price target for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Finally, Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $146.17.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $132.30 on Friday. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The stock has a market cap of $230.26 billion, a PE ratio of 16.58, a PEG ratio of 2.51 and a beta of 0.69. 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 firm’s 50 day moving average price is $132.54 and its two-hundred day moving average price is $131.60.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period last year, the firm earned $1.14 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. 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, analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 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.