Scotia Capital Inc. Sells 1,730 Shares of Abbott Laboratories $ABT

Scotia Capital Inc. reduced its holdings in Abbott Laboratories (NYSE:ABT) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,369 shares of the healthcare product maker’s stock after selling 1,730 shares during the quarter. Scotia Capital Inc.’s holdings in Abbott Laboratories were worth $13,650,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. IMG Wealth Management Inc. raised its stake 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 in the last quarter. Elequin Capital LP bought a new position in shares of Abbott Laboratories in the 1st quarter worth $30,000. Anfield Capital Management LLC raised its position in shares of Abbott Laboratories by 81.3% during the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter worth $33,000. Finally, Accent Capital Management LLC purchased a new position in Abbott Laboratories in the first quarter worth $38,000. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ABT shares. BTIG Research restated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research report on Thursday, November 20th. Mizuho raised their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Sanford C. Bernstein upped their target price on Abbott Laboratories from $145.00 to $150.00 and gave the stock 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. 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 price objective 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $128.90 on Friday. 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 has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The firm has a market cap of $224.14 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. The business has a 50 day moving average price of $129.40 and a 200-day moving average price of $131.05.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. The company 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 firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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