Peak Financial Advisors LLC Takes Position in Abbott Laboratories $ABT

Peak Financial Advisors LLC bought a new stake in Abbott Laboratories (NYSE:ABT) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 19,074 shares of the healthcare product maker’s stock, valued at approximately $2,555,000. Abbott Laboratories accounts for 1.2% of Peak Financial Advisors LLC’s holdings, making the stock its 21st largest holding.

Other institutional investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. increased its holdings in shares of Abbott Laboratories by 759.1% during the second 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 in the last quarter. Anfield Capital Management LLC grew its position in Abbott Laboratories by 81.3% in the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Delos Wealth Advisors LLC bought a new stake in Abbott Laboratories during the 2nd quarter valued at $32,000. Curio Wealth LLC raised its holdings in Abbott Laboratories by 15,250.0% during the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after buying an additional 305 shares during the last quarter. Finally, Pineridge Advisors LLC lifted its stake in shares of Abbott Laboratories by 34.6% in the second quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

ABT stock opened at $126.63 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The firm has a market cap of $220.19 billion, a PE ratio of 15.87, a P/E/G ratio of 2.31 and a beta of 0.72. The business has a 50 day moving average of $127.07 and a 200-day moving average of $130.36. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23.

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, hitting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. 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. As a group, sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. The ex-dividend date is Thursday, January 15th. Abbott Laboratories’s dividend payout ratio is 29.57%.

Wall Street Analyst Weigh In

ABT has been the subject of several recent research reports. The Goldman Sachs Group boosted their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Sanford C. Bernstein boosted their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Benchmark initiated coverage on Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective for the company. 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 increased their price target on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.