Abbott Laboratories $ABT Shares Purchased by Empower Advisory Group LLC

Empower Advisory Group LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 918,333 shares of the healthcare product maker’s stock after purchasing an additional 2,250 shares during the period. Empower Advisory Group LLC owned approximately 0.05% of Abbott Laboratories worth $124,902,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avanza Fonder AB lifted its position in shares of Abbott Laboratories by 0.4% during the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after purchasing an additional 655 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Abbott Laboratories by 12.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock worth $91,109,000 after acquiring an additional 73,780 shares in the last quarter. Madrona Financial Services LLC increased its holdings in shares of Abbott Laboratories by 9.7% in the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after acquiring an additional 152 shares during the last quarter. Atria Investments Inc raised its position in shares of Abbott Laboratories by 8.3% during the 2nd quarter. Atria Investments Inc now owns 184,269 shares of the healthcare product maker’s stock valued at $25,062,000 after acquiring an additional 14,185 shares in the last quarter. Finally, State of Michigan Retirement System lifted its stake in Abbott Laboratories by 0.5% during the second quarter. State of Michigan Retirement System now owns 473,057 shares of the healthcare product maker’s stock worth $64,340,000 after purchasing an additional 2,500 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ABT shares. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Raymond James Financial raised their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Daiwa Capital Markets upped their target price on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, BTIG Research reissued a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $130.59 on Friday. The firm’s 50 day moving average is $130.38 and its two-hundred day moving average is $131.35. The firm has a market capitalization of $227.08 billion, a P/E ratio of 16.36, a PEG ratio of 2.36 and a beta of 0.68. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 52 week low of $110.86 and a 52 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 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.30. The business had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Abbott Laboratories 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.