Prospera Financial Services Inc Sells 3,906 Shares of Abbott Laboratories $ABT

Prospera Financial Services Inc trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.3% in the second quarter, Holdings Channel.com reports. The firm owned 114,386 shares of the healthcare product maker’s stock after selling 3,906 shares during the quarter. Prospera Financial Services Inc’s holdings in Abbott Laboratories were worth $15,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABT. Avanza Fonder AB increased its position in shares of Abbott Laboratories by 0.4% during the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after buying an additional 655 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Abbott Laboratories by 12.4% during the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock worth $91,109,000 after purchasing an additional 73,780 shares during the period. Madrona Financial Services LLC lifted its stake in shares of Abbott Laboratories by 9.7% in the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after buying an additional 152 shares in the last quarter. State of Michigan Retirement System boosted its stake in Abbott Laboratories by 0.5% during the 2nd quarter. State of Michigan Retirement System now owns 473,057 shares of the healthcare product maker’s stock valued at $64,340,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Atria Investments Inc grew its holdings in Abbott Laboratories by 8.3% during the second quarter. Atria Investments Inc now owns 184,269 shares of the healthcare product maker’s stock worth $25,062,000 after buying an additional 14,185 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 1.1%

Abbott Laboratories stock opened at $126.28 on Friday. The firm has a 50 day simple moving average of $130.78 and a 200 day simple moving average of $131.40. 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 1-year low of $110.86 and a 1-year high of $141.23. The firm has a market capitalization of $219.59 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same period last year, the company earned $1.21 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Raymond James Financial upped their target price on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Mizuho lifted their price target on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average 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.