Abbott Laboratories $ABT Shares Sold by The Manufacturers Life Insurance Company

by · The Cerbat Gem

The Manufacturers Life Insurance Company decreased its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 5.2% in the second quarter, HoldingsChannel.com reports. The firm owned 2,807,844 shares of the healthcare product maker’s stock after selling 155,312 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Abbott Laboratories were worth $381,895,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. IMG Wealth Management Inc. lifted its position in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 167 shares in the last quarter. Elequin Capital LP acquired a new position in Abbott Laboratories during the first quarter worth $30,000. Anfield Capital Management LLC lifted its holdings in Abbott Laboratories by 81.3% during the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Curio Wealth LLC grew its position in shares of Abbott Laboratories by 15,250.0% in the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after purchasing an additional 305 shares during the period. Finally, Pineridge Advisors LLC increased its stake in shares of Abbott Laboratories by 34.6% during the second quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock worth $43,000 after purchasing an additional 81 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

NYSE:ABT opened at $122.38 on Thursday. The company has a market capitalization of $212.80 billion, a P/E ratio of 15.34, a P/E/G ratio of 2.21 and a beta of 0.72. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The stock’s fifty day moving average is $127.83 and its two-hundred day moving average is $130.59.

Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period last year, the company earned $1.21 EPS. The company’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. Equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ABT shares. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. The Goldman Sachs Group lifted their price target on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Wells Fargo & Company increased their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a research note on Monday. Finally, BTIG Research reiterated a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a research report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.00.

View Our Latest Report on Abbott Laboratories

Abbott Laboratories Profile

(Free Report)

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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