Weil Company Inc. Sells 558 Shares of Abbott Laboratories $ABT

Weil Company Inc. lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 18.3% in the second quarter, Holdings Channel reports. The institutional investor owned 2,489 shares of the healthcare product maker’s stock after selling 558 shares during the period. Weil Company Inc.’s holdings in Abbott Laboratories were worth $338,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ABT. IMG Wealth Management Inc. raised its holdings in shares of 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 last quarter. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at about $27,000. Elequin Capital LP purchased a new position in Abbott Laboratories during the first quarter worth approximately $30,000. Vision Financial Markets LLC acquired a new stake in Abbott Laboratories in the first quarter valued at approximately $33,000. Finally, Accent Capital Management LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth approximately $38,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

NYSE:ABT opened at $125.88 on Tuesday. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a market capitalization of $218.89 billion, a P/E ratio of 15.77, a P/E/G ratio of 2.36 and a beta of 0.68. The stock’s fifty day moving average is $130.65 and its two-hundred day moving average is $131.39. 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 released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 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 return on equity of 17.78% and a net margin of 31.88%.The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period 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. Equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Benchmark initiated coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 price objective for the company. Evercore ISI reduced their price target on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. The Goldman Sachs Group lifted their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Mizuho increased their target price on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Finally, Jefferies Financial Group lifted their price target on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

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.