HBK Sorce Advisory LLC Sells 5,406 Shares of Abbott Laboratories $ABT

HBK Sorce Advisory LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 22.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,158 shares of the healthcare product maker’s stock after selling 5,406 shares during the period. HBK Sorce Advisory LLC’s holdings in Abbott Laboratories were worth $2,351,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. IMG Wealth Management Inc. increased its position 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 worth $26,000 after acquiring an additional 167 shares during the period. Anfield Capital Management LLC grew its position in shares of Abbott Laboratories by 81.3% during the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock worth $32,000 after purchasing an additional 104 shares in the last quarter. Delos Wealth Advisors LLC bought a new position in shares of Abbott Laboratories during the second quarter worth approximately $32,000. Curio Wealth LLC raised its position in shares of Abbott Laboratories by 15,250.0% in the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after buying an additional 305 shares in the last quarter. Finally, Pineridge Advisors LLC boosted its stake in shares of Abbott Laboratories by 34.6% in the second quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after buying an additional 81 shares during the period. Institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ABT. Sanford C. Bernstein lifted their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Raymond James Financial raised their price target on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Benchmark began coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 price objective for the company. BTIG Research reissued a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a report on Thursday, November 20th. Finally, Wells Fargo & Company upped their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Two investment 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Stock Down 0.1%

ABT stock opened at $124.74 on Monday. The stock has a market capitalization of $216.91 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 2.28 and a beta of 0.71. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $126.25 and a 200-day moving average price of $129.90. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The business 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 company earned $1.21 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company 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 dividend of $0.63 per share. This is a positive change 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 dividend yield of 2.0%. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Abbott Laboratories Profile

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.