Midwest Professional Planners LTD. Acquires 5,010 Shares of Abbott Laboratories $ABT

Midwest Professional Planners LTD. raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 50.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,040 shares of the healthcare product maker’s stock after purchasing an additional 5,010 shares during the quarter. Midwest Professional Planners LTD.’s holdings in Abbott Laboratories were worth $2,046,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Avanza Fonder AB lifted its holdings in Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after buying an additional 655 shares in the last quarter. Madrona Financial Services LLC lifted its holdings in Abbott Laboratories by 9.7% in the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after buying an additional 152 shares during the period. Janney Montgomery Scott LLC boosted 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 acquiring an additional 73,780 shares during the last quarter. Atria Investments Inc raised its position in shares of Abbott Laboratories by 8.3% during the 2nd quarter. Atria Investments Inc now owns 184,269 shares of the healthcare product maker’s stock valued at $25,062,000 after acquiring an additional 14,185 shares during the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of Abbott Laboratories by 0.5% in the 2nd quarter. State of Michigan Retirement System now owns 473,057 shares of the healthcare product maker’s stock worth $64,340,000 after purchasing an additional 2,500 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Sanford C. Bernstein upped their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Daiwa Capital Markets increased their price target on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Wells Fargo & Company boosted their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Raymond James Financial lifted their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Finally, Benchmark initiated coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Stock Up 1.0%

Shares of ABT stock opened at $130.59 on Monday. The company has a market capitalization of $227.08 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The firm has a fifty day moving average of $130.38 and a 200-day moving average of $131.36. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last announced 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 firm had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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