Profund Advisors LLC Has $3.02 Million Stock Position in Abbott Laboratories $ABT

Profund Advisors LLC reduced its stake in Abbott Laboratories (NYSE:ABT) by 6.4% during the 2nd quarter, Holdings Channel reports. The fund owned 22,217 shares of the healthcare product maker’s stock after selling 1,511 shares during the period. Profund Advisors LLC’s holdings in Abbott Laboratories were worth $3,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ABT. 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 bought a new position in shares of Abbott Laboratories in the 1st quarter valued at $27,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories during the 1st quarter worth $30,000. Vision Financial Markets LLC acquired a new stake in Abbott Laboratories in the first quarter valued at about $33,000. Finally, Accent Capital Management LLC bought a new position in shares of Abbott Laboratories in the first quarter worth about $38,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the subject of a number of research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $147.00 price objective on shares of Abbott Laboratories in a research report on Thursday, October 16th. Wells Fargo & Company raised 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. Daiwa Capital Markets upped their target price on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Finally, Morgan Stanley upped their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $126.28 on Monday. 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 business’s 50 day simple moving average is $130.78 and its 200 day simple moving average is $131.41. The stock has a market capitalization of $219.59 billion, a PE ratio of 15.82, a PEG ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same period in the prior year, the firm posted $1.21 EPS. The company’s quarterly revenue 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 forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s payout ratio 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.