CoreCap Advisors LLC Boosts Stake in Abbott Laboratories $ABT

CoreCap Advisors LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 15.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,651 shares of the healthcare product maker’s stock after buying an additional 4,017 shares during the quarter. CoreCap Advisors LLC’s holdings in Abbott Laboratories were worth $4,105,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. raised its position in Abbott Laboratories by 759.1% in the 2nd 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 during the last quarter. Anfield Capital Management LLC boosted its stake in shares of 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 buying an additional 104 shares during the period. Delos Wealth Advisors LLC purchased a new position in shares of Abbott Laboratories during the second quarter worth about $32,000. Curio Wealth LLC increased its position 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 acquiring an additional 305 shares during the period. Finally, Pineridge Advisors LLC raised its stake in Abbott Laboratories by 34.6% during the 2nd quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after acquiring an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.6%

Shares of ABT opened at $127.06 on Thursday. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $220.94 billion, a P/E ratio of 15.92, a PEG ratio of 2.12 and a beta of 0.72. The firm’s 50-day moving average is $126.05 and its two-hundred day moving average is $129.49.

Abbott Laboratories (NYSE:ABT) last posted 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. The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on ABT shares. BTIG Research reissued a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a report on Thursday, November 20th. Raymond James Financial lifted their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. The Goldman Sachs Group upped their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Daiwa Capital Markets lifted their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, Mizuho increased their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Two 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. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $147.47.

Abbott Laboratories Profile

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.