Abbott Laboratories $ABT Shares Sold by KPP Advisory Services LLC

Key Points

• KPP Advisory Services LLC reduced its stake in Abbott Laboratories by 90.9%, selling 114,058 shares in the second quarter and now holding 11,404 shares valued at $1,551,000.
• Analysts have generally given Abbott Laboratories a consensus rating of "Moderate Buy", with an average target price of $147.00, indicating positive sentiment for the company’s stock.
• The company is set to pay a $0.59 quarterly dividend on November 17, which represents an annualized yield of 1.8%, highlighting its commitment to returning value to shareholders.

KPP Advisory Services LLC decreased its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 90.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,404 shares of the healthcare product maker's stock after selling 114,058 shares during the period. KPP Advisory Services LLC's holdings in Abbott Laboratories were worth $1,551,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. IMG Wealth Management Inc. increased its position in shares of 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 in the last quarter. Hughes Financial Services LLC purchased a new position in Abbott Laboratories during the 1st quarter worth approximately $27,000. Abound Financial LLC acquired a new position in Abbott Laboratories during the first quarter worth approximately $28,000. Elequin Capital LP purchased a new stake in Abbott Laboratories in the first quarter valued at approximately $30,000. Finally, JCIC Asset Management Inc. acquired a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an "overweight" rating in a report on Thursday, October 16th. Benchmark assumed 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 on the stock. Morgan Stanley increased their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Evercore ISI dropped their price target on Abbott Laboratories from $144.00 to $142.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 15th. Finally, Barclays increased their price objective on Abbott Laboratories from $159.00 to $162.00 and gave the stock an "overweight" rating in a research report on Friday, October 17th. Two equities research 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. 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

Shares of NYSE ABT opened at $127.99 on Thursday. The company's fifty day moving average is $132.25 and its two-hundred day moving average is $131.52. 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 firm has a market capitalization of $222.76 billion, a P/E ratio of 16.04, a PEG ratio of 2.42 and a beta of 0.69. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) 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 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 business earned $1.21 earnings per share. The business's revenue for the quarter 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. Analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction on Friday, August 8th. The stock was 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 in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.46% of the company's stock.

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.

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