HBK Sorce Advisory LLC Sells 5,406 Shares of Abbott Laboratories $ABT

HBK Sorce Advisory LLC trimmed its position in Abbott Laboratories (NYSE:ABT) by 22.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,158 shares of the healthcare product maker’s stock after selling 5,406 shares during the period. HBK Sorce Advisory LLC’s holdings in Abbott Laboratories were worth $2,351,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABT. IMG Wealth Management Inc. grew its stake in shares of Abbott Laboratories by 759.1% during the 2nd 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 in the last quarter. Anfield Capital Management LLC boosted its holdings in Abbott Laboratories by 81.3% during the second 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 last quarter. Delos Wealth Advisors LLC bought a new position in Abbott Laboratories in the second quarter valued at $32,000. Curio Wealth LLC increased its stake in Abbott Laboratories by 15,250.0% in the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after buying an additional 305 shares during the last quarter. Finally, Pineridge Advisors LLC lifted its position in Abbott Laboratories by 34.6% during the 2nd quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock worth $43,000 after buying an additional 81 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABT shares. Jefferies Financial Group raised their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. Sanford C. Bernstein boosted their price target on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Raymond James Financial upped their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, BTIG Research reissued a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a research note on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Stock Performance

ABT opened at $124.74 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The business has a 50 day moving average of $126.25 and a 200-day moving average of $129.90. The stock has a market cap of $216.91 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 2.28 and a beta of 0.71.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The business had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same period in the previous year, the firm earned $1.21 EPS. The firm’s revenue 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. On average, equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s payout ratio is presently 29.57%.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.