Balanced Wealth Group LLC Acquires 732 Shares of Abbott Laboratories $ABT

Balanced Wealth Group LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 20.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,377 shares of the healthcare product maker’s stock after purchasing an additional 732 shares during the quarter. Balanced Wealth Group LLC’s holdings in Abbott Laboratories were worth $552,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. 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. Elequin Capital LP acquired a new stake in Abbott Laboratories in the 1st quarter worth $30,000. Anfield Capital Management LLC increased its holdings 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 during the period. Vision Financial Markets LLC acquired a new position in shares of Abbott Laboratories during the first quarter valued at about $33,000. Finally, Accent Capital Management LLC bought a new stake in shares of Abbott Laboratories in the first quarter valued at about $38,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $128.90 on Friday. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The stock has a market capitalization of $224.14 billion, a PE ratio of 16.15, a PEG ratio of 2.36 and a beta of 0.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The stock’s fifty day moving average is $129.40 and its 200-day moving average is $131.05.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.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 previous year, the business posted $1.21 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have commented on ABT. Mizuho upped their price target on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Sanford C. Bernstein boosted their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Raymond James Financial upped their target price on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Finally, Benchmark assumed coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target 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.