CoreCap Advisors LLC Raises Holdings in Abbott Laboratories $ABT

CoreCap Advisors LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 15.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,651 shares of the healthcare product maker’s stock after buying an additional 4,017 shares during the quarter. CoreCap Advisors LLC’s holdings in Abbott Laboratories were worth $4,105,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Cordatus Wealth Management LLC increased its position in Abbott Laboratories by 21.5% during the 3rd quarter. Cordatus Wealth Management LLC now owns 28,808 shares of the healthcare product maker’s stock worth $3,858,000 after purchasing an additional 5,106 shares in the last quarter. Kathmere Capital Management LLC grew its holdings in shares of Abbott Laboratories by 5.1% during the third quarter. Kathmere Capital Management LLC now owns 5,571 shares of the healthcare product maker’s stock worth $746,000 after buying an additional 268 shares in the last quarter. Gladstone Institutional Advisory LLC raised its position in shares of Abbott Laboratories by 0.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 23,555 shares of the healthcare product maker’s stock valued at $3,155,000 after buying an additional 121 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Abbott Laboratories by 318.9% during the third quarter. Geneos Wealth Management Inc. now owns 81,436 shares of the healthcare product maker’s stock valued at $10,908,000 after buying an additional 61,997 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its position in Abbott Laboratories by 72.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 11,961 shares of the healthcare product maker’s stock worth $1,602,000 after acquiring an additional 5,005 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ABT. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, November 20th. Raymond James Financial increased their target price on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday, December 29th. Benchmark started coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $147.47.

Abbott Laboratories Trading Down 0.6%

NYSE ABT opened at $127.06 on Thursday. The firm has a market capitalization of $220.94 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.12 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.24 and a current ratio of 1.70. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The company’s 50 day moving average price is $126.05 and its 200 day moving average price is $129.49.

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 the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The company had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The business’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. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 15th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.0%. 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. Abbott Laboratories’s dividend payout ratio 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.