Laffer Tengler Investments Inc. Grows Position in Abbott Laboratories $ABT

Laffer Tengler Investments Inc. boosted its position in shares of Abbott Laboratories (NYSE:ABT) by 57.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,492 shares of the healthcare product maker’s stock after acquiring an additional 1,270 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Abbott Laboratories were worth $475,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. IMG Wealth Management Inc. boosted its holdings in Abbott Laboratories by 759.1% during 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 period. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories during the first quarter worth $27,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories during the first quarter valued at $30,000. Vision Financial Markets LLC bought a new position in shares of Abbott Laboratories in the first quarter worth about $33,000. Finally, Accent Capital Management LLC purchased a new position in Abbott Laboratories in the 1st quarter worth about $38,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of several research reports. Barclays boosted their price objective on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Mizuho boosted their price target on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. BTIG Research restated a “buy” rating and set a $145.00 price objective on shares of Abbott Laboratories in a report on Wednesday, October 15th. Raymond James Financial upped their target price on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Stock Up 1.1%

Shares of NYSE ABT opened at $126.28 on Monday. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The stock’s fifty day simple moving average is $130.78 and its two-hundred day simple moving average is $131.41. The stock has a market capitalization of $219.59 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. The firm 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 17.78% and a net margin of 31.88%.The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, October 15th. 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.