Planned Solutions Inc. Buys 1,040 Shares of Abbott Laboratories $ABT

Planned Solutions Inc. raised its stake in Abbott Laboratories (NYSE:ABT) by 48.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,181 shares of the healthcare product maker’s stock after acquiring an additional 1,040 shares during the quarter. Planned Solutions Inc.’s holdings in Abbott Laboratories were worth $433,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Sanford C. Bernstein raised their price objective on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday. Wells Fargo & Company upped their target price on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank Of Canada restated an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a report on Thursday. The Goldman Sachs Group upped their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Finally, Mizuho increased their price objective on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.61.

Abbott Laboratories Stock Performance

Shares of ABT opened at $128.69 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $223.98 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69. The firm’s fifty day simple moving average is $132.38 and its two-hundred day simple moving average is $131.54. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued 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. 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 analysts’ expectations of $11.40 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

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

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.