Avantax Advisory Services Inc. Purchases 1,867 Shares of Abbott Laboratories $ABT

Avantax Advisory Services Inc. increased its position in shares of Abbott Laboratories (NYSE:ABT) by 1.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 182,452 shares of the healthcare product maker’s stock after buying an additional 1,867 shares during the period. Avantax Advisory Services Inc.’s holdings in Abbott Laboratories were worth $24,815,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. IMG Wealth Management Inc. increased its stake in Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 167 shares in the last quarter. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $30,000. Vision Financial Markets LLC bought a new stake in Abbott Laboratories in the 1st quarter valued at about $33,000. Accent Capital Management LLC bought a new stake in Abbott Laboratories in the 1st quarter valued at about $38,000. Finally, Curio Wealth LLC raised its stake in Abbott Laboratories by 15,250.0% during the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after buying an additional 305 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $130.59 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The firm has a 50-day moving average of $130.38 and a 200-day moving average of $131.35. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The company has a market cap of $227.08 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting the consensus estimate of $1.30. The business had revenue of $11.37 billion for 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 firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Benchmark initiated coverage on Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price objective for the company. Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Royal Bank Of Canada restated an “outperform” rating and set a $147.00 price objective on shares of Abbott Laboratories in a report on Thursday, October 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. Finally, BTIG Research restated a “buy” rating and issued a $145.00 target price 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 assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $147.00.

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.