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

by · The Markets Daily

WealthPLAN Partners LLC decreased its position in Abbott Laboratories (NYSE:ABT – Free Report) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $27,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $28,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $30,000. JCIC Asset Management Inc. acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $32,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the sale, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ABT. Evercore ISI upped their target price on shares of Abbott Laboratories from $140.00 to $144.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Jefferies Financial Group raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and upped their target price for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. The Goldman Sachs Group upped their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. BTIG Research reduced their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $146.17.

Check Out Our Latest Analysis on ABT

Abbott Laboratories Trading Down 2.9%

Abbott Laboratories stock opened at $129.35 on Thursday. The firm has a 50-day moving average of $132.59 and a 200-day moving average of $131.60. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. 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 company has a market cap of $225.13 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 2.53 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the business posted $1.21 EPS. The company’s quarterly revenue 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, equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

About Abbott Laboratories

(Free Report)

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.

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