Financial Management Professionals Inc. Buys 5,389 Shares of Abbott Laboratories $ABT

Key Points

• Financial Management Professionals Inc. significantly increased its stake in Abbott Laboratories by 715.7%, owning a total of 6,142 shares valued at approximately $835,000.
• Analysts have set a consensus price target of $145.22 for Abbott Laboratories, with two analysts rating it as a Strong Buy.
• Abbott Laboratories declared a quarterly dividend of $0.59 per share, with a yield of 1.7%, scheduled for payment on November 17th.

Financial Management Professionals Inc. increased its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 715.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,142 shares of the healthcare product maker's stock after acquiring an additional 5,389 shares during the quarter. Financial Management Professionals Inc.'s holdings in Abbott Laboratories were worth $835,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cim LLC increased its position in Abbott Laboratories by 0.4% during the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock worth $1,919,000 after acquiring an additional 73 shares during the period. Consilium Wealth Advisory LLC increased its position in Abbott Laboratories by 2.1% during the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock worth $507,000 after acquiring an additional 78 shares during the period. Mayflower Financial Advisors LLC increased its holdings in Abbott Laboratories by 0.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock valued at $2,298,000 after buying an additional 78 shares during the period. FF Advisors LLC increased its holdings in Abbott Laboratories by 4.3% in the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker's stock valued at $259,000 after buying an additional 79 shares during the period. Finally, Opes Wealth Management LLC increased its holdings in Abbott Laboratories by 2.9% in the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock valued at $379,000 after buying an additional 80 shares during the period. Institutional investors own 75.18% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ABT. Leerink Partners began coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target on the stock. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Wells Fargo & Company lowered their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Royal Bank Of Canada boosted their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, BTIG Research reduced their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $145.22.

Abbott Laboratories Stock Down 0.6%

Shares of NYSE:ABT opened at $135.82 on Wednesday. Abbott Laboratories has a 52 week low of $110.86 and a 52 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's fifty day moving average is $130.65 and its 200-day moving average is $131.15. The company has a market capitalization of $236.39 billion, a PE ratio of 17.02, a P/E/G ratio of 2.59 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.7%. Abbott Laboratories's dividend payout ratio is 29.57%.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, 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 available at the SEC website. 0.46% of the stock is currently owned by company insiders.

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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