Laurel Wealth Advisors LLC Grows Position in Abbott Laboratories $ABT

Laurel Wealth Advisors LLC raised its holdings in Abbott Laboratories (NYSE:ABT) by 13,347.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,056,934 shares of the healthcare product maker’s stock after buying an additional 6,011,891 shares during the period. Laurel Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $823,804,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. IMG Wealth Management Inc. increased its holdings 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. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories in the first quarter worth $30,000. Anfield Capital Management LLC raised 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 acquiring an additional 104 shares in the last quarter. Vision Financial Markets LLC acquired a new position in shares of Abbott Laboratories in the first quarter worth about $33,000. Finally, Accent Capital Management LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Evercore ISI reduced their price objective on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. Benchmark started coverage on Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price target for the company. BTIG Research restated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research note on Thursday, November 20th. Finally, The Goldman Sachs Group boosted their target price on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Two equities 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 an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Stock Down 0.5%

Shares of NYSE ABT opened at $127.44 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The stock has a market capitalization of $221.61 billion, a PE ratio of 15.97, a P/E/G ratio of 2.36 and a beta of 0.68. The firm has a fifty day moving average of $129.87 and a 200-day moving average of $131.14.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS 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 company had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. 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. On average, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, October 15th. Abbott Laboratories’s payout ratio is currently 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.