Scholtz & Company LLC Cuts Position in Abbott Laboratories $ABT

Scholtz & Company LLC cut its stake in Abbott Laboratories (NYSE:ABT) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,633 shares of the healthcare product maker’s stock after selling 735 shares during the quarter. Abbott Laboratories comprises about 2.8% of Scholtz & Company LLC’s portfolio, making the stock its 11th biggest position. Scholtz & Company LLC’s holdings in Abbott Laboratories were worth $6,343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. IMG Wealth Management Inc. lifted its position 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 valued at $26,000 after acquiring an additional 167 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in Abbott Laboratories during the first quarter valued at approximately $27,000. Abound Financial LLC purchased a new stake in Abbott Laboratories during the first quarter valued at approximately $28,000. Elequin Capital LP purchased a new stake in Abbott Laboratories during the first quarter valued at approximately $30,000. Finally, Vision Financial Markets LLC purchased a new stake in Abbott Laboratories during the first quarter valued at approximately $33,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s 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 transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Trading Up 0.2%

Shares of Abbott Laboratories stock opened at $124.62 on Friday. 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 fifty day moving average price of $131.63 and a 200 day moving average price of $131.59. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The stock has a market cap of $216.89 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 2.36 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued its 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 firm had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter last year, the company posted $1.21 earnings per share. The firm’s 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. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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 issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ABT shares. Mizuho increased their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Wells Fargo & Company increased their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. BTIG Research reaffirmed a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a report on Wednesday, October 15th. Barclays raised their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Finally, The Goldman Sachs Group raised their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.