Abbott Laboratories $ABT Shares Sold by LJI Wealth Management LLC

LJI Wealth Management LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 13.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,031 shares of the healthcare product maker’s stock after selling 312 shares during the quarter. LJI Wealth Management LLC’s holdings in Abbott Laboratories were worth $276,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. boosted its position in 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 during the period. Hughes Financial Services LLC acquired a new position in Abbott Laboratories during the 1st quarter worth $27,000. Abound Financial LLC acquired a new position in Abbott Laboratories during the 1st quarter worth $28,000. Elequin Capital LP acquired a new position in Abbott Laboratories during the 1st quarter worth $30,000. Finally, Vision Financial Markets LLC acquired a new position in Abbott Laboratories during the 1st quarter worth $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of several research analyst reports. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. The Goldman Sachs Group upped their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Daiwa Capital Markets upped their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday. Barclays upped their price objective on Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Trading Down 1.2%

Shares of NYSE ABT opened at $126.44 on Friday. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company has a market cap of $220.06 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 2.43 and a beta of 0.69. 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 fifty day simple moving average of $132.19 and a 200-day simple moving average of $131.53.

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

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 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.