Laffer Tengler Investments Inc. Raises Position in Abbott Laboratories $ABT

Laffer Tengler Investments Inc. raised its position in shares of Abbott Laboratories (NYSE:ABT) by 57.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,492 shares of the healthcare product maker’s stock after acquiring an additional 1,270 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Abbott Laboratories were worth $475,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vise Technologies Inc. bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $7,725,000. Cahill Financial Advisors Inc. bought a new stake in shares of Abbott Laboratories during the 2nd quarter valued at $202,000. Allworth Financial LP grew its position in shares of Abbott Laboratories by 3.2% in the 2nd quarter. Allworth Financial LP now owns 259,721 shares of the healthcare product maker’s stock worth $35,325,000 after buying an additional 7,935 shares during the period. Addison Advisors LLC increased its stake in shares of Abbott Laboratories by 2.9% in the 2nd quarter. Addison Advisors LLC now owns 4,546 shares of the healthcare product maker’s stock worth $618,000 after acquiring an additional 128 shares in the last quarter. Finally, Tillman Hartley LLC lifted its position in Abbott Laboratories by 8.1% during the 2nd quarter. Tillman Hartley LLC now owns 2,864 shares of the healthcare product maker’s stock valued at $390,000 after acquiring an additional 215 shares during the period. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the topic of several recent research reports. Benchmark initiated coverage on Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 price target on the stock. Raymond James Financial boosted 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. BTIG Research restated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research note on Wednesday, October 15th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Finally, Jefferies Financial Group upped their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Trading Up 1.1%

Shares of ABT opened at $126.28 on Monday. The stock has a market capitalization of $219.59 billion, a PE ratio of 15.82, a P/E/G ratio of 2.36 and a beta of 0.68. The company’s fifty day moving average is $130.78 and its 200 day moving average is $131.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. The business had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio is 29.57%.

Abbott Laboratories Company 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.