Midland Wealth Advisors LLC Sells 614 Shares of Abbott Laboratories $ABT

Midland Wealth Advisors LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,654 shares of the healthcare product maker’s stock after selling 614 shares during the quarter. Midland Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $2,129,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. IMG Wealth Management Inc. lifted its holdings in Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 167 shares during the period. Hughes Financial Services LLC purchased a new stake in Abbott Laboratories in the first quarter worth $27,000. Elequin Capital LP purchased a new position in Abbott Laboratories during the first quarter valued at $30,000. Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at $33,000. Finally, Accent Capital Management LLC bought a new position in shares of Abbott Laboratories in the 1st quarter worth about $38,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABT. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. Daiwa Capital Markets lifted their price target on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Finally, Benchmark began coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $126.28 on Monday. The firm’s 50-day moving average price is $130.78 and its 200-day moving average price is $131.41. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The company has a market cap of $219.59 billion, a PE ratio of 15.82, a PEG ratio of 2.36 and a beta of 0.68. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

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

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Abbott Laboratories 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.