FDx Advisors Inc. Boosts Holdings in Abbott Laboratories $ABT

FDx Advisors Inc. increased its stake in Abbott Laboratories (NYSE:ABT) by 29.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,093 shares of the healthcare product maker’s stock after buying an additional 478 shares during the period. FDx Advisors Inc.’s holdings in Abbott Laboratories were worth $285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IMG Wealth Management Inc. grew its stake 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 purchasing an additional 167 shares during the period. Hughes Financial Services LLC bought a new position in shares of Abbott Laboratories in the 1st quarter worth about $27,000. Elequin Capital LP purchased a new position in Abbott Laboratories during the 1st quarter valued at about $30,000. Vision Financial Markets LLC bought a new stake in Abbott Laboratories during the first quarter worth about $33,000. Finally, Accent Capital Management LLC purchased a new stake in Abbott Laboratories in the first quarter worth about $38,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT opened at $126.28 on Monday. The firm has a market capitalization of $219.59 billion, a P/E ratio of 15.82, a PEG ratio of 2.36 and a beta of 0.68. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The business has a fifty day moving average of $130.78 and a 200 day moving average of $131.41.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.78% 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 last year, the firm posted $1.21 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Analysts Set New Price Targets

Several analysts recently commented on ABT shares. Raymond James Financial increased their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Evercore ISI cut their price target on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Jefferies Financial Group increased their target price on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Finally, Daiwa Capital Markets boosted their price target on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

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.