IFP Advisors Inc Grows Stock Holdings in Abbott Laboratories $ABT

IFP Advisors Inc raised its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 307.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 234,173 shares of the healthcare product maker's stock after acquiring an additional 176,649 shares during the period. IFP Advisors Inc's holdings in Abbott Laboratories were worth $21,249,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ABT. MidAtlantic Capital Management Inc. acquired a new stake in Abbott Laboratories in the 4th quarter worth about $25,000. Cornerstone Financial Management LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at about $25,000. Purpose Unlimited Inc. purchased a new position in shares of Abbott Laboratories during the 4th quarter worth about $25,000. Portfolio Resources Advisor Group Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter worth approximately $26,000. Finally, Abound Financial LLC purchased a new stake in Abbott Laboratories in the fourth quarter valued at approximately $26,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $105.66 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. The company has a market cap of $182.82 billion, a PE ratio of 34.19, a P/E/G ratio of 2.01 and a beta of 0.59. The company's fifty day simple moving average is $105.04 and its 200-day simple moving average is $99.95. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $137.49.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.03. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The firm had revenue of $12.59 billion during the quarter, compared to analysts' expectations of $12.52 billion. During the same period in the prior year, the company earned $1.26 EPS. The firm's revenue was up 13.0% on a year-over-year basis. Abbott Laboratories has set its Q3 2026 guidance at 1.380-1.46 EPS and its FY 2026 guidance at 5.450-5.60 EPS. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Wednesday, July 15th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Wednesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 81.55%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $130.00 price target on shares of Abbott Laboratories in a research note on Friday, July 17th. Robert W. Baird started coverage on shares of Abbott Laboratories in a research note on Wednesday, July 1st. They set an "outperform" rating and a $121.00 price objective for the company. Bank of America cut their target price on Abbott Laboratories from $120.00 to $102.00 in a research report on Friday, June 12th. Weiss Ratings upgraded Abbott Laboratories from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company upped their price target on Abbott Laboratories from $109.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $119.50.

Abbott Laboratories Company Profile

Abbott Laboratories NYSE: ABT is a global healthcare company that develops, manufactures and sells medical products and technologies. Its operations span four principal areas: medical devices, diagnostics, established pharmaceutical products and nutrition. Abbott serves healthcare providers, institutions and consumers in markets around the world.

The company's medical device portfolio includes products for cardiovascular care, diabetes management and other specialties. Its diagnostics business provides laboratory systems, tests and point-of-care solutions, while its nutrition products include infant, child and adult nutritional offerings sold under brands such as Similac, Ensure and Pedialyte.

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.