IMG Wealth Management Inc. Has $26,000 Holdings in Abbott Laboratories $ABT

IMG Wealth Management Inc. boosted its holdings in Abbott Laboratories (NYSE:ABT) by 759.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 189 shares of the healthcare product maker’s stock after buying an additional 167 shares during the quarter. IMG Wealth Management Inc.’s holdings in Abbott Laboratories were worth $26,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in Abbott Laboratories in the first quarter valued at about $27,000. Abound Financial LLC bought a new position in Abbott Laboratories in the first quarter valued at about $28,000. Elequin Capital LP bought a new position in Abbott Laboratories in the first quarter valued at about $30,000. JCIC Asset Management Inc. bought a new position in Abbott Laboratories in the first quarter valued at about $32,000. Finally, Vision Financial Markets LLC bought a new position in Abbott Laboratories in the first quarter valued at about $33,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.7%

Shares of ABT stock opened at $129.49 on Tuesday. The company has a market cap of $225.38 billion, a P/E ratio of 16.23, a PEG ratio of 2.44 and a beta of 0.69. The stock has a 50 day simple moving average of $132.34 and a two-hundred day simple moving average of $131.57. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

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

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares of the company’s stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on ABT shares. Morgan Stanley increased their target price on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Mizuho increased their target price on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Sanford C. Bernstein increased their target price on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Finally, BTIG Research restated a “buy” rating and set a $145.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $147.61.

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.