Planned Solutions Inc. Has $433,000 Stock Position in Abbott Laboratories $ABT

Planned Solutions Inc. increased its holdings in Abbott Laboratories (NYSE:ABT) by 48.6% during the second quarter, HoldingsChannel reports. The fund owned 3,181 shares of the healthcare product maker’s stock after acquiring an additional 1,040 shares during the quarter. Planned Solutions Inc.’s holdings in Abbott Laboratories were worth $433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABT. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth about $27,000. Abound Financial LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth about $28,000. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth about $30,000. JCIC Asset Management Inc. acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth about $32,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ABT. Benchmark initiated coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective for the company. Wells Fargo & Company increased their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday. The Goldman Sachs Group increased their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Jefferies Financial Group increased their price objective on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Mizuho increased their price objective on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $147.61.

Insider Buying and Selling

In related 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 value of $746,752.50. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Up 0.8%

Shares of ABT stock opened at $128.69 on Friday. The company has a 50 day moving average of $132.38 and a 200-day moving average of $131.54. 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 has a 12-month low of $110.86 and a 12-month high of $141.23. The firm has a market cap of $223.98 billion, a P/E ratio of 16.13, a PEG ratio of 2.44 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $11.40 billion. During the same quarter last year, the business posted $1.21 EPS. Abbott Laboratories’s quarterly revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors 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 annualized dividend and a 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.