Narwhal Capital Management Purchases 6,027 Shares of Abbott Laboratories $ABT

Narwhal Capital Management raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 9.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 71,596 shares of the healthcare product maker’s stock after acquiring an additional 6,027 shares during the quarter. Narwhal Capital Management’s holdings in Abbott Laboratories were worth $9,590,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. IMG Wealth Management Inc. lifted its stake in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 167 shares in the last quarter. Anfield Capital Management LLC raised its holdings in Abbott Laboratories by 81.3% during the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after acquiring an additional 104 shares during the period. Delos Wealth Advisors LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth $32,000. Curio Wealth LLC boosted its holdings in shares of Abbott Laboratories by 15,250.0% in the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after acquiring an additional 305 shares during the period. Finally, Pineridge Advisors LLC grew its position 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 purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.2%

Shares of NYSE ABT opened at $125.95 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average of $126.13 and a 200-day moving average of $129.42. The firm has a market capitalization of $219.00 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 2.09 and a beta of 0.72. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its 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 business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period last year, the firm 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. Sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s payout ratio is presently 29.57%.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent research reports. The Goldman Sachs Group increased their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Benchmark began coverage on Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, November 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. Two 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.68.

Abbott Laboratories Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.