Schmidt P J Investment Management Inc. Sells 142 Shares of Abbott Laboratories $ABT

Schmidt P J Investment Management Inc. lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 0.4% in the second quarter, Holdings Channel.com reports. The firm owned 33,402 shares of the healthcare product maker’s stock after selling 142 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Abbott Laboratories were worth $4,543,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ABT. Brighton Jones LLC increased its holdings in Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after purchasing an additional 4,755 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its stake in shares of Abbott Laboratories by 12.0% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,163 shares of the healthcare product maker’s stock worth $287,000 after buying an additional 232 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Abbott Laboratories by 4.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 245,966 shares of the healthcare product maker’s stock worth $31,291,000 after buying an additional 11,419 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Abbott Laboratories by 11.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 525,080 shares of the healthcare product maker’s stock worth $69,148,000 after buying an additional 54,986 shares during the last quarter. Finally, Aljian Capital Management LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth about $413,000. Institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Up 0.3%

Shares of NYSE:ABT opened at $126.78 on Monday. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The company has a market capitalization of $220.65 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 2.41 and a beta of 0.69. The company has a 50-day simple moving average of $132.09 and a 200 day simple moving average of $131.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82.

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

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ABT shares. The Goldman Sachs Group increased their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Friday. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Evercore ISI reduced their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research note on Wednesday, October 15th. Finally, Benchmark started coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

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.