Peak Financial Advisors LLC Makes New Investment in Abbott Laboratories $ABT

Peak Financial Advisors LLC bought a new stake in Abbott Laboratories (NYSE:ABT) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 19,074 shares of the healthcare product maker’s stock, valued at approximately $2,555,000. Abbott Laboratories makes up 1.2% of Peak Financial Advisors LLC’s portfolio, making the stock its 21st largest holding.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after purchasing an additional 4,755 shares during the period. Van Lanschot Kempen Investment Management N.V. lifted its position in shares of Abbott Laboratories by 2.7% during the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 67,825 shares of the healthcare product maker’s stock worth $8,997,000 after acquiring an additional 1,766 shares in the last quarter. Heritage Financial Services LLC boosted its holdings in shares of Abbott Laboratories by 3.0% in the first quarter. Heritage Financial Services LLC now owns 3,941 shares of the healthcare product maker’s stock worth $523,000 after acquiring an additional 115 shares during the period. Vertex Planning Partners LLC grew its position in shares of Abbott Laboratories by 3.4% in the first quarter. Vertex Planning Partners LLC now owns 7,293 shares of the healthcare product maker’s stock valued at $967,000 after purchasing an additional 240 shares in the last quarter. Finally, Tradition Wealth Management LLC raised its stake in shares of Abbott Laboratories by 1.5% during the 1st quarter. Tradition Wealth Management LLC now owns 6,388 shares of the healthcare product maker’s stock valued at $847,000 after purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ABT shares. Sanford C. Bernstein raised their target price on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, November 20th. Daiwa Capital Markets upped their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Abbott Laboratories in a report on Monday. Finally, Jefferies Financial Group upped their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Trading Down 0.2%

Shares of Abbott Laboratories stock opened at $126.63 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The firm has a market cap of $220.19 billion, a PE ratio of 15.87, a PEG ratio of 2.31 and a beta of 0.72. The company has a 50 day simple moving average of $127.07 and a two-hundred day simple moving average of $130.36.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The firm had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter last year, the company posted $1.21 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, January 15th will be issued a $0.63 dividend. 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. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio (DPR) is currently 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.