WealthPLAN Partners LLC Has $780,000 Stock Position in Abbott Laboratories $ABT

WealthPLAN Partners LLC reduced its position in Abbott Laboratories (NYSE:ABT) by 7.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,734 shares of the healthcare product maker’s stock after selling 435 shares during the period. WealthPLAN Partners LLC’s holdings in Abbott Laboratories were worth $780,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new position in Abbott Laboratories in the 1st quarter valued at about $1,658,180,000. Goldman Sachs Group Inc. raised its holdings in Abbott Laboratories by 29.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock valued at $2,120,516,000 after acquiring an additional 3,616,471 shares during the period. Wellington Management Group LLP raised its holdings in Abbott Laboratories by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after acquiring an additional 3,371,113 shares during the period. TD Asset Management Inc raised its holdings in Abbott Laboratories by 98.6% in the 2nd quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock valued at $471,669,000 after acquiring an additional 1,721,523 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Abbott Laboratories by 12.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock valued at $1,916,966,000 after acquiring an additional 1,639,954 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABT. Benchmark began coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 price target on the stock. Morgan Stanley increased their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Wells Fargo & Company lowered their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Mizuho raised their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Evercore ISI raised their target price on shares of Abbott Laboratories from $140.00 to $144.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $146.17.

Abbott Laboratories Stock Down 2.9%

Shares of ABT opened at $129.35 on Thursday. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The firm’s 50 day moving average is $132.59 and its 200-day moving average is $131.60. The stock has a market capitalization of $225.13 billion, a PE ratio of 16.21, a P/E/G ratio of 2.53 and a beta of 0.69. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last announced 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. The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is owned by company insiders.

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.