Schulhoff & Co. Inc. Sells 700 Shares of Abbott Laboratories $ABT

Schulhoff & Co. Inc. lowered its position in Abbott Laboratories (NYSE:ABT) by 2.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 23,896 shares of the healthcare product maker’s stock after selling 700 shares during the quarter. Abbott Laboratories makes up about 1.4% of Schulhoff & Co. Inc.’s investment portfolio, making the stock its 18th largest position. Schulhoff & Co. Inc.’s holdings in Abbott Laboratories were worth $3,250,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. IMG Wealth Management Inc. boosted its holdings in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 167 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of Abbott Laboratories during the 1st quarter valued at about $27,000. Abound Financial LLC bought a new position in shares of Abbott Laboratories during the 1st quarter valued at about $28,000. Elequin Capital LP bought a new position in shares of Abbott Laboratories during the 1st quarter valued at about $30,000. Finally, JCIC Asset Management Inc. bought a new position in shares of Abbott Laboratories during the 1st quarter valued at about $32,000. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Royal Bank Of Canada restated an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 16th. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Barclays upped their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Finally, Daiwa Capital Markets upped their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday. Two research 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction that occurred on 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 directly owned 51,003 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $127.68 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The firm has a market capitalization of $222.21 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 2.46 and a beta of 0.69. The company’s 50-day moving average is $132.28 and its 200 day moving average is $131.54.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting 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 analyst estimates of $11.40 billion. During the same period in the prior year, the company posted $1.21 EPS. The firm’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. Research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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