Logan Capital Management Inc. Sells 1,448 Shares of Abbott Laboratories $ABT

Logan Capital Management Inc. decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.0% in the second quarter, HoldingsChannel reports. The firm owned 46,449 shares of the healthcare product maker’s stock after selling 1,448 shares during the quarter. Logan Capital Management Inc.’s holdings in Abbott Laboratories were worth $6,317,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ABT. IMG Wealth Management Inc. raised its holdings 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 acquiring an additional 167 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Abbott Laboratories during the 1st quarter valued at $27,000. Abound Financial LLC bought a new position in Abbott Laboratories in the 1st quarter worth $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth about $30,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $33,000. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on ABT shares. BTIG Research restated a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a report on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Morgan Stanley lifted their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Benchmark began coverage on Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective for the company. Finally, William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Trading Up 0.2%

NYSE ABT opened at $127.16 on Tuesday. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. 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’s fifty day moving average price is $132.03 and its 200-day moving average price is $131.64. The stock has a market cap of $221.31 billion, a P/E ratio of 15.93, a P/E/G ratio of 2.41 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.30. The company had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. Abbott Laboratories’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors 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 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value 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 represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by insiders.

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.