New York Life Investment Management LLC Acquires 4,494 Shares of Abbott Laboratories $ABT

New York Life Investment Management LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 240,455 shares of the healthcare product maker’s stock after purchasing an additional 4,494 shares during the period. New York Life Investment Management LLC’s holdings in Abbott Laboratories were worth $32,704,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. lifted its stake in Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 167 shares during the period. Hughes Financial Services LLC bought a new position in Abbott Laboratories during the first quarter worth about $27,000. Abound Financial LLC bought a new position in Abbott Laboratories during the first quarter worth about $28,000. Elequin Capital LP bought a new position in Abbott Laboratories during the first quarter worth about $30,000. Finally, Vision Financial Markets LLC bought a new position in shares of Abbott Laboratories in the first quarter valued at approximately $33,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $127.16 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The firm has a market cap of $221.31 billion, a P/E ratio of 15.93, a P/E/G ratio of 2.41 and a beta of 0.69. The firm has a 50 day simple moving average of $132.03 and a 200 day simple moving average of $131.64. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

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 business had revenue of $11.37 billion during 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 revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm 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 dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s payout ratio is currently 29.57%.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction 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 completion of the sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Evercore ISI cut their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research note on Wednesday, October 15th. Mizuho lifted their target price 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. Jefferies Financial Group lifted their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Morgan Stanley lifted their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average 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.