Stance Capital LLC Makes New $1.30 Million Investment in Abbott Laboratories $ABT

Stance Capital LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 9,587 shares of the healthcare product maker’s stock, valued at approximately $1,304,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Avanza Fonder AB increased its position in Abbott Laboratories by 0.4% in the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after purchasing an additional 655 shares during the last quarter. Seaview Investment Managers LLC bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at approximately $11,068,000. Guggenheim Capital LLC increased its holdings in Abbott Laboratories by 13.5% in the second quarter. Guggenheim Capital LLC now owns 98,941 shares of the healthcare product maker’s stock worth $13,457,000 after buying an additional 11,794 shares during the last quarter. Atria Investments Inc raised its position 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 valued at $25,062,000 after acquiring an additional 14,185 shares in the last quarter. Finally, Financial Management Professionals Inc. grew its position in Abbott Laboratories by 715.7% in the second quarter. Financial Management Professionals Inc. now owns 6,142 shares of the healthcare product maker’s stock worth $835,000 after acquiring an additional 5,389 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Benchmark started coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Abbott Laboratories in a research note on Monday, December 8th. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. BTIG Research reaffirmed a “buy” rating and set a $145.00 target price on shares of Abbott Laboratories in a research report on Thursday, November 20th. Finally, Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Stock Up 1.8%

Shares of ABT stock opened at $125.47 on Monday. The stock has a 50 day moving average of $127.45 and a 200-day moving average of $130.47. The firm has a market cap of $218.17 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share 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 17.60%. The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the firm earned $1.21 EPS. The business’s 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. On average, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current 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 dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, January 15th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s payout ratio is 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.