BLB&B Advisors LLC Sells 501 Shares of Abbott Laboratories $ABT

BLB&B Advisors LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,912 shares of the healthcare product maker’s stock after selling 501 shares during the quarter. BLB&B Advisors LLC’s holdings in Abbott Laboratories were worth $4,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IMG Wealth Management Inc. increased its holdings in Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 167 shares during the last quarter. Hughes Financial Services LLC bought a new stake in Abbott Laboratories in the first quarter valued at about $27,000. Abound Financial LLC bought a new stake in Abbott Laboratories in the first quarter valued at about $28,000. Elequin Capital LP bought a new stake in Abbott Laboratories in the first quarter valued at about $30,000. Finally, Vision Financial Markets LLC acquired a new position in Abbott Laboratories in the first quarter valued at about $33,000. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Up 0.2%

ABT stock opened at $124.62 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The stock has a market capitalization of $216.89 billion, a P/E ratio of 15.62, a P/E/G ratio of 2.36 and a beta of 0.69. The business has a 50-day moving average of $131.63 and a 200-day moving average of $131.59. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting the consensus estimate of $1.30. The company had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.Abbott Laboratories’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 firm earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio is 29.57%.

Analysts Set New Price Targets

ABT has been the subject of a number of research analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. Raymond James Financial boosted their target price on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Morgan Stanley boosted their target price 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. Finally, Daiwa Capital Markets boosted their target price on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus 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.