Huntleigh Advisors Inc. Grows Stock Holdings in Abbott Laboratories $ABT

Key Points

• Huntleigh Advisors Inc. increased its holdings in Abbott Laboratories by 21.7% during the second quarter, owning 20,454 shares valued at approximately $2.78 million.
• Several research firms raised their price targets for Abbott Laboratories, with Barclays setting a new target at $162.00 and a consensus average of $147.61 from various analysts.
• Abbott Laboratories declared a quarterly dividend of $0.59 per share, with an annualized yield of 1.8%, payable on November 17th.

Huntleigh Advisors Inc. raised its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 21.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,454 shares of the healthcare product maker's stock after buying an additional 3,644 shares during the period. Huntleigh Advisors Inc.'s holdings in Abbott Laboratories were worth $2,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ABT. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $30,000. JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $32,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $33,000. Institutional investors own 75.18% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on ABT. Barclays boosted their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an "overweight" rating in a report on Friday. BTIG Research restated a "buy" rating and issued a $145.00 price target on shares of Abbott Laboratories in a report on Wednesday. Mizuho increased their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday. Morgan Stanley raised their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Evercore ISI cut their price target on shares of Abbott Laboratories from $144.00 to $142.00 and set an "outperform" rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and an average price target of $147.61.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company's stock.

Abbott Laboratories Trading Up 0.8%

Shares of Abbott Laboratories stock opened at $128.69 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The firm has a market capitalization of $223.98 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.42 and a beta of 0.69. The firm's 50 day simple moving average is $132.38 and its two-hundred day simple moving average is $131.54.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued 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 net margin of 31.88% and a return on equity of 17.78%. The business had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the prior year, the business posted $1.21 EPS. Abbott Laboratories'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. Analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

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

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.

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