Secure Asset Management LLC Purchases 4,100 Shares of Abbott Laboratories $ABT

by · The Markets Daily

Secure Asset Management LLC raised its position in Abbott Laboratories (NYSE:ABT – Free Report) by 38.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,664 shares of the healthcare product maker’s stock after buying an additional 4,100 shares during the quarter. Secure Asset Management LLC’s holdings in Abbott Laboratories were worth $1,957,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ABT. Avanza Fonder AB boosted its holdings in shares of Abbott Laboratories by 0.4% in the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after purchasing an additional 655 shares in the last quarter. Seaview Investment Managers LLC bought a new position in Abbott Laboratories during the 2nd quarter worth $11,068,000. Guggenheim Capital LLC lifted its holdings in Abbott Laboratories by 13.5% during the 2nd quarter. Guggenheim Capital LLC now owns 98,941 shares of the healthcare product maker’s stock worth $13,457,000 after buying an additional 11,794 shares during the period. Atria Investments Inc increased its stake in shares of Abbott Laboratories by 8.3% in the second quarter. Atria Investments Inc now owns 184,269 shares of the healthcare product maker’s stock valued at $25,062,000 after buying an additional 14,185 shares during the period. Finally, Financial Management Professionals Inc. lifted its stake in shares of Abbott Laboratories by 715.7% in the second quarter. Financial Management Professionals Inc. now owns 6,142 shares of the healthcare product maker’s stock worth $835,000 after acquiring an additional 5,389 shares during the period. 75.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Barclays raised their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Raymond James Financial upped their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a research report on Monday. BTIG Research reissued a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a research note on Thursday, November 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Check Out Our Latest Stock Report on ABT

Abbott Laboratories Stock Performance

ABT stock opened at $125.45 on Friday. The business has a 50 day moving average of $126.77 and a 200-day moving average of $130.27. The firm has a market cap of $218.13 billion, a PE ratio of 15.72, a P/E/G ratio of 2.28 and a beta of 0.72. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the prior year, the company earned $1.21 EPS. 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 expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $2.52 annualized dividend and a yield of 2.0%. Abbott Laboratories’s payout ratio is 29.57%.

Abbott Laboratories Company Profile

(Free Report)

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.

Recommended Stories