17,830 Shares in Abbott Laboratories $ABT Bought by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. purchased a new stake in Abbott Laboratories (NYSE:ABT) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 17,830 shares of the healthcare product maker’s stock, valued at approximately $2,425,000.

A number of other large investors have also modified their holdings of ABT. Avanza Fonder AB lifted its stake in Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after acquiring an additional 655 shares during the period. Seaview Investment Managers LLC purchased a new position in shares of Abbott Laboratories during the second quarter worth $11,068,000. Guggenheim Capital LLC lifted its position in Abbott Laboratories by 13.5% during the second quarter. Guggenheim Capital LLC now owns 98,941 shares of the healthcare product maker’s stock valued at $13,457,000 after purchasing an additional 11,794 shares during the period. Atria Investments Inc boosted its holdings in Abbott Laboratories by 8.3% in the second quarter. Atria Investments Inc now owns 184,269 shares of the healthcare product maker’s stock valued at $25,062,000 after purchasing an additional 14,185 shares during the last quarter. Finally, Financial Management Professionals Inc. grew its position in Abbott Laboratories by 715.7% during the 2nd quarter. Financial Management Professionals Inc. now owns 6,142 shares of the healthcare product maker’s stock worth $835,000 after purchasing an additional 5,389 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $125.47 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.24 and a current ratio of 1.70. The firm has a fifty day moving average of $127.45 and a 200 day moving average of $130.47. The firm has a market cap of $218.17 billion, a PE ratio of 15.72, a PEG ratio of 2.29 and a beta of 0.71. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. The business had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 15th will be paid a dividend of $0.63 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, January 15th. This represents a $2.52 annualized dividend and a yield of 2.0%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ABT. Mizuho upped their target price on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Benchmark began coverage on Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective on the stock. Evercore ISI cut their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. BTIG Research reissued a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a report on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.