Tectonic Advisors LLC Lowers Holdings in Abbott Laboratories $ABT

Tectonic Advisors LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 69.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,127 shares of the healthcare product maker’s stock after selling 11,830 shares during the period. Tectonic Advisors LLC’s holdings in Abbott Laboratories were worth $687,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. raised its holdings 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 purchasing an additional 167 shares in the last quarter. Anfield Capital Management LLC increased its holdings in Abbott Laboratories by 81.3% during the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after buying an additional 104 shares during the period. Delos Wealth Advisors LLC bought a new position in Abbott Laboratories in the second quarter worth approximately $32,000. Curio Wealth LLC boosted its position in Abbott Laboratories by 15,250.0% during the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after acquiring an additional 305 shares in the last quarter. Finally, Pineridge Advisors LLC increased its holdings in shares of Abbott Laboratories by 34.6% in the 2nd quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after acquiring an additional 81 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

ABT opened at $124.15 on Friday. The company has a market cap of $215.88 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 2.08 and a beta of 0.72. 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’s 50-day moving average price is $125.99 and its 200-day moving average price is $129.62. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting the consensus estimate of $1.30. The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. Abbott Laboratories’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 15th will be given a $0.63 dividend. 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 positive change from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s payout ratio is currently 29.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ABT shares. Daiwa Capital Markets upped their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Benchmark initiated coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 target price for the company. Barclays raised their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 17th. BTIG Research reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a research report on Thursday, November 20th. Finally, The Goldman Sachs Group increased their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Two equities research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $147.00.

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.