Wealth Alliance LLC Has $2.05 Million Stock Position in Abbott Laboratories $ABT

Wealth Alliance LLC lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 8.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,074 shares of the healthcare product maker’s stock after acquiring an additional 1,174 shares during the period. Wealth Alliance LLC’s holdings in Abbott Laboratories were worth $2,050,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ABT. IMG Wealth Management Inc. increased its position in Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 167 shares during the last quarter. Elequin Capital LP bought a new position in shares of Abbott Laboratories in the first quarter worth approximately $30,000. Vision Financial Markets LLC purchased a new position in Abbott Laboratories in the first quarter worth $33,000. Accent Capital Management LLC bought a new position in shares of Abbott Laboratories during the 1st quarter valued at about $38,000. Finally, Curio Wealth LLC raised its stake in shares of Abbott Laboratories by 15,250.0% during the second 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. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on ABT shares. The Goldman Sachs Group raised their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Mizuho lifted 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 set a $147.00 price objective on shares of Abbott Laboratories 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 research report on Friday, October 17th. Finally, Morgan Stanley lifted their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Stock Up 0.9%

Shares of NYSE ABT opened at $126.98 on Wednesday. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. 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 has a market capitalization of $220.80 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 2.36 and a beta of 0.68. The stock has a 50 day moving average price of $130.56 and a 200 day moving average price of $131.37.

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. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same period in the prior year, the business posted $1.21 EPS. The firm’s quarterly 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. Sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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 issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s payout ratio is presently 29.57%.

Abbott Laboratories 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.