Midland Wealth Advisors LLC Reduces Position in Abbott Laboratories $ABT

Midland Wealth Advisors LLC trimmed its stake in Abbott Laboratories (NYSE:ABT) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,654 shares of the healthcare product maker’s stock after selling 614 shares during the period. Midland Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $2,129,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $1,658,180,000. Goldman Sachs Group Inc. boosted its stake in shares of Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after acquiring an additional 3,616,471 shares during the period. Wellington Management Group LLP raised its stake in Abbott Laboratories by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after purchasing an additional 3,371,113 shares during the period. TD Asset Management Inc boosted its stake in Abbott Laboratories by 98.6% in the 2nd quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock worth $471,669,000 after purchasing an additional 1,721,523 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Abbott Laboratories by 12.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock valued at $1,916,966,000 after buying an additional 1,639,954 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 1.1%

Shares of NYSE ABT opened at $126.28 on Monday. The business’s 50 day moving average price is $130.78 and its 200-day moving average price is $131.41. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week 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. The company has a market cap of $219.59 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the prior year, the company posted $1.21 EPS. Abbott Laboratories’s quarterly revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given a $0.59 dividend. 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 payout ratio is 29.57%.

Wall Street Analyst Weigh In

ABT has been the topic of several research analyst reports. Sanford C. Bernstein boosted their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Evercore ISI reduced their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Mizuho increased their price target 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. Raymond James Financial boosted their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Finally, The Goldman Sachs Group upped their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $147.00.

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.