Sanders Morris Harris LLC Invests $974,000 in Abbott Laboratories $ABT

by · The Cerbat Gem

Sanders Morris Harris LLC bought a new position in shares of Abbott Laboratories (NYSE:ABT – Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 7,275 shares of the healthcare product maker’s stock, valued at approximately $974,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after purchasing an additional 4,755 shares during the last quarter. Blue Investment Partners LLC bought a new stake in shares of Abbott Laboratories during the first quarter worth $212,000. Texas Capital Bank Wealth Management Services Inc increased its stake in shares of Abbott Laboratories by 389.2% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 10,126 shares of the healthcare product maker’s stock valued at $1,343,000 after buying an additional 8,056 shares in the last quarter. bLong Financial LLC raised its holdings in shares of Abbott Laboratories by 2.1% in the first quarter. bLong Financial LLC now owns 7,257 shares of the healthcare product maker’s stock valued at $963,000 after buying an additional 150 shares during the last quarter. Finally, Legacy Financial Advisors Inc. lifted its position in Abbott Laboratories by 8.3% during the 1st quarter. Legacy Financial Advisors Inc. now owns 10,337 shares of the healthcare product maker’s stock worth $1,371,000 after buying an additional 794 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 1.2%

ABT opened at $126.96 on Wednesday. The firm has a 50 day simple moving average of $127.23 and a 200 day simple moving average of $130.39. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a market cap of $220.76 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 2.34 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24.

Abbott Laboratories (NYSE:ABT – Get Free Report) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 15th will be issued a $0.63 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, January 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Analyst Ratings Changes

Several equities research analysts have weighed in on ABT shares. Evercore ISI lowered their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Abbott Laboratories in a research note on Monday. Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Benchmark started coverage on Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price objective on the stock. Finally, BTIG Research reiterated a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a research report on Thursday, November 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $147.00.

View Our Latest Report on ABT

About Abbott Laboratories

(Free Report)

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.

See Also

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