Abbott Laboratories $ABT Shares Sold by Prentice Wealth Management LLC

Prentice Wealth Management LLC reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,326 shares of the healthcare product maker’s stock after selling 265 shares during the quarter. Prentice Wealth Management LLC’s holdings in Abbott Laboratories were worth $724,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. IMG Wealth Management Inc. boosted its position 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 worth $26,000 after acquiring an additional 167 shares in the last quarter. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth about $27,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth about $28,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories during the 1st quarter worth about $30,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth about $33,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their target price on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Mizuho upped 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. Wells Fargo & Company upped their target price on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Daiwa Capital Markets upped their target price on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Insiders Place Their Bets

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Down 1.2%

Abbott Laboratories stock opened at $126.44 on Friday. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The stock has a 50 day moving average of $132.19 and a two-hundred day moving average of $131.53. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $220.06 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 2.43 and a beta of 0.69.

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

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 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.