L.M. Kohn & Company Sells 171 Shares of Abbott Laboratories $ABT

L.M. Kohn & Company lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 7.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,114 shares of the healthcare product maker’s stock after selling 171 shares during the quarter. L.M. Kohn & Company’s holdings in Abbott Laboratories were worth $288,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. raised its position in shares of Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 167 shares during the period. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth about $27,000. Abound Financial LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth about $28,000. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories during the first quarter worth about $30,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth about $33,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 1.7%

ABT stock opened at $124.42 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average price of $131.78 and a two-hundred day moving average price of $131.64. The company has a market cap of $216.55 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 2.40 and a beta of 0.69. Abbott Laboratories has a twelve month low of $110.86 and a twelve month 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 for the quarter, meeting analysts’ consensus estimates of $1.30. The firm 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 business’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared 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 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Insiders Place Their Bets

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories 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 in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ABT shares. Wells Fargo & Company raised their price target on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Evercore ISI dropped their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. BTIG Research reissued a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Finally, Mizuho lifted 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. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

About Abbott Laboratories

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.