Wrapmanager Inc. Lowers Holdings in Abbott Laboratories $ABT

Wrapmanager Inc. lowered its holdings in shares of Abbott Laboratories (NYSE:ABT) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,143 shares of the healthcare product maker’s stock after selling 1,434 shares during the quarter. Wrapmanager Inc.’s holdings in Abbott Laboratories were worth $1,924,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ABT. IMG Wealth Management Inc. raised its position in shares of Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 167 shares during the last quarter. Elequin Capital LP purchased a new position in Abbott Laboratories during the first quarter valued at $30,000. Vision Financial Markets LLC purchased a new position in Abbott Laboratories during the first quarter valued at $33,000. Accent Capital Management LLC purchased a new stake in Abbott Laboratories in the 1st quarter worth $38,000. Finally, Curio Wealth LLC boosted its holdings in shares of Abbott Laboratories by 15,250.0% during the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after purchasing an additional 305 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 0.3%

Shares of ABT opened at $129.16 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average of $130.42 and a 200 day moving average of $131.34. The company has a market cap of $224.59 billion, a PE ratio of 16.19, a P/E/G ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share 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 for the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The business’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. On average, sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced 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. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s payout ratio is 29.57%.

Analyst Ratings Changes

ABT has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. BTIG Research reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, October 15th. Barclays increased their target price on Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Royal Bank Of Canada restated an “outperform” rating and issued a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. Finally, Evercore ISI lowered 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 report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average price target of $147.00.

About Abbott Laboratories

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.