Weil Company Inc. Reduces Holdings in Abbott Laboratories $ABT

Weil Company Inc. trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 18.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,489 shares of the healthcare product maker’s stock after selling 558 shares during the quarter. Weil Company Inc.’s holdings in Abbott Laboratories were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. increased its position in shares of 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 acquiring an additional 167 shares during the period. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories during the first quarter valued at approximately $27,000. Elequin Capital LP bought a new position in shares of Abbott Laboratories during the first quarter valued at approximately $30,000. Vision Financial Markets LLC bought a new stake in Abbott Laboratories in the first quarter valued at $33,000. Finally, Accent Capital Management LLC purchased a new position in Abbott Laboratories during the 1st quarter valued at $38,000. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on ABT shares. Sanford C. Bernstein raised their price objective on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Evercore ISI dropped their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Barclays increased their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Trading Down 0.4%

Abbott Laboratories stock opened at $125.88 on Tuesday. The firm has a market capitalization of $218.89 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The firm has a 50 day moving average of $130.65 and a 200 day moving average of $131.39. 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 released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the previous year, the company earned $1.21 EPS. Abbott Laboratories’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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