Prospera Financial Services Inc Has $15.56 Million Stock Holdings in Abbott Laboratories $ABT

Prospera Financial Services Inc reduced its stake in Abbott Laboratories (NYSE:ABT) by 3.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,386 shares of the healthcare product maker’s stock after selling 3,906 shares during the period. Prospera Financial Services Inc’s holdings in Abbott Laboratories were worth $15,561,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. raised its position in shares of Abbott Laboratories by 759.1% in the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 167 shares during the period. Hughes Financial Services LLC bought a new stake in Abbott Laboratories in the first quarter valued at approximately $27,000. Elequin Capital LP bought a new position in shares of Abbott Laboratories during the first quarter worth $30,000. Vision Financial Markets LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $33,000. Finally, Accent Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at $38,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 1.1%

NYSE:ABT opened at $126.28 on Friday. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The firm has a market capitalization of $219.59 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average price is $130.78 and its two-hundred day moving average price is $131.40.

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 business had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter last year, the company posted $1.21 earnings per share. Abbott Laboratories’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. Equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Analyst Ratings Changes

Several research firms have weighed in on ABT. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. The Goldman Sachs Group increased their target price on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Evercore ISI reduced their price target on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Finally, Daiwa Capital Markets raised their price objective 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. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Company 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.