Perennial Investment Advisors LLC Has $450,000 Position in Abbott Laboratories $ABT

Perennial Investment Advisors LLC grew its position in shares of Abbott Laboratories (NYSE:ABT) by 28.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,311 shares of the healthcare product maker’s stock after buying an additional 734 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Abbott Laboratories were worth $450,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. lifted its stake 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 during the period. Elequin Capital LP bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $30,000. Vision Financial Markets LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth $33,000. Accent Capital Management LLC bought a new stake in shares of Abbott Laboratories in the first quarter valued at about $38,000. Finally, Curio Wealth LLC grew its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of several recent research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. Evercore ISI reduced their target price 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. Wells Fargo & Company upped their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Jefferies Financial Group increased their price target on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Barclays boosted their price objective on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Two 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Stock Up 0.0%

Shares of Abbott Laboratories stock opened at $130.08 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The firm has a market cap of $226.19 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 2.36 and a beta of 0.68. The stock’s 50-day moving average is $130.30 and its 200 day moving average is $131.33. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter last year, the firm posted $1.21 EPS. Abbott Laboratories’s revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th were paid a dividend of $0.59 per share. The ex-dividend date was Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

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.