Abbott Laboratories $ABT Shares Sold by BKM Wealth Management LLC

BKM Wealth Management LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,365 shares of the healthcare product maker’s stock after selling 382 shares during the period. Abbott Laboratories makes up approximately 1.1% of BKM Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. BKM Wealth Management LLC’s holdings in Abbott Laboratories were worth $2,770,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Hughes Financial Services LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth about $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth about $28,000. Elequin Capital LP acquired a new stake in Abbott Laboratories during the 1st quarter worth about $30,000. JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories during the 1st quarter worth about $32,000. Finally, Vision Financial Markets LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth about $33,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. The Goldman Sachs Group increased their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Evercore ISI lowered their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Benchmark assumed coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They set a “buy” rating and a $145.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $147.61.

Abbott Laboratories Trading Up 0.8%

Shares of Abbott Laboratories stock opened at $128.69 on Friday. The firm has a market capitalization of $223.98 billion, a PE ratio of 16.13, a P/E/G ratio of 2.44 and a beta of 0.69. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The firm’s 50-day moving average price is $132.38 and its 200 day moving average price is $131.54. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results 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 firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. Abbott Laboratories’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid 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 1.8%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were 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 trade represents a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

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.