Institute for Wealth Management LLC. Lowers Stock Holdings in Abbott Laboratories $ABT

Institute for Wealth Management LLC. trimmed its position in Abbott Laboratories (NYSE:ABT) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,743 shares of the healthcare product maker’s stock after selling 118 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Abbott Laboratories were worth $1,053,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kelly Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the first quarter worth about $216,000. Edge Financial Advisors LLC raised its stake in Abbott Laboratories by 3.3% in the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker’s stock valued at $336,000 after purchasing an additional 81 shares in the last quarter. Avanza Fonder AB raised its stake in Abbott Laboratories by 0.4% in the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after purchasing an additional 655 shares in the last quarter. SageView Advisory Group LLC raised its stake in Abbott Laboratories by 18.6% in the first quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker’s stock valued at $2,427,000 after purchasing an additional 2,873 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Abbott Laboratories by 12.4% in the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock valued at $91,109,000 after purchasing an additional 73,780 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. BTIG Research lowered their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. The Goldman Sachs Group increased their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $145.39.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Down 0.3%

Shares of NYSE ABT opened at $133.53 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The stock has a market capitalization of $232.39 billion, a P/E ratio of 16.73, a PEG ratio of 2.54 and a beta of 0.69. The firm’s 50 day simple moving average is $131.63 and its two-hundred day simple moving average is $131.24.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter last year, the business earned $1.14 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. As a group, analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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 issued a $0.59 dividend. The ex-dividend date is 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 currently 29.57%.

Abbott Laboratories 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.