Investment Management Corp of Ontario Sells 32,347 Shares of Abbott Laboratories $ABT

Investment Management Corp of Ontario decreased its holdings in Abbott Laboratories (NYSE:ABT) by 33.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,595 shares of the healthcare product maker’s stock after selling 32,347 shares during the quarter. Investment Management Corp of Ontario’s holdings in Abbott Laboratories were worth $8,650,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. IMG Wealth Management Inc. increased its position in shares of Abbott Laboratories by 759.1% in 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. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories during the 1st quarter valued at $30,000. Anfield Capital Management LLC grew its holdings in shares of Abbott Laboratories by 81.3% during the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock worth $32,000 after purchasing an additional 104 shares during the last quarter. Curio Wealth LLC raised its stake in shares of Abbott Laboratories by 15,250.0% during the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after acquiring an additional 305 shares during the last quarter. Finally, Pineridge Advisors LLC lifted its holdings in Abbott Laboratories by 34.6% during the 2nd quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock worth $43,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the subject of several research analyst reports. Benchmark initiated coverage on Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective for the company. Daiwa Capital Markets boosted their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. 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 research note on Thursday, October 16th. Royal Bank Of Canada restated an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. Finally, Raymond James Financial increased their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Trading Down 2.6%

NYSE:ABT opened at $121.88 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $128.31 and a 200 day moving average of $130.72. The firm has a market capitalization of $211.93 billion, a P/E ratio of 15.27, a P/E/G ratio of 2.28 and a beta of 0.71. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (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 17.60%. The business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the previous year, the firm earned $1.21 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th were issued a $0.59 dividend. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.9%. Abbott Laboratories’s payout ratio is 29.57%.

Abbott Laboratories Company 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.