Abbott Laboratories $ABT Shares Sold by Curat Global LLC

Curat Global LLC decreased its stake in Abbott Laboratories (NYSE:ABT) by 38.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,135 shares of the healthcare product maker’s stock after selling 2,000 shares during the quarter. Curat Global LLC’s holdings in Abbott Laboratories were worth $426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IMG Wealth Management Inc. lifted its stake 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 in the last quarter. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories in the first quarter worth about $27,000. Abound Financial LLC purchased a new position in shares of Abbott Laboratories in the first quarter worth about $28,000. Elequin Capital LP purchased a new position in shares of Abbott Laboratories in the first quarter worth about $30,000. Finally, Vision Financial Markets LLC purchased a new position in shares of Abbott Laboratories in the first quarter worth about $33,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ABT has been the topic of several recent analyst reports. Benchmark initiated coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a report on Friday. The Goldman Sachs Group boosted their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Raymond James Financial boosted their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Mizuho boosted their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $126.78 on Monday. The company’s 50 day simple moving average is $132.09 and its 200-day simple moving average is $131.64. The company has a market capitalization of $220.65 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 2.41 and a beta of 0.69. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. The business 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 business’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

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.