Alberta Investment Management Corp Decreases Stake in Abbott Laboratories $ABT

Alberta Investment Management Corp cut its position in Abbott Laboratories (NYSE:ABT) by 81.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,800 shares of the healthcare product maker’s stock after selling 101,949 shares during the period. Alberta Investment Management Corp’s holdings in Abbott Laboratories were worth $3,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. boosted its holdings in shares of Abbott Laboratories by 759.1% in 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 period. Elequin Capital LP acquired a new stake in Abbott Laboratories during the 1st quarter worth $30,000. Vision Financial Markets LLC purchased a new position in Abbott Laboratories during the 1st quarter worth $33,000. Accent Capital Management LLC acquired a new position in Abbott Laboratories in the first quarter valued at $38,000. Finally, Curio Wealth LLC raised its holdings 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 buying an additional 305 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on ABT shares. BTIG Research reiterated a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a research note on Wednesday, October 15th. Sanford C. Bernstein boosted their price objective on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Daiwa Capital Markets raised their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Mizuho boosted their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Finally, Wells Fargo & Company raised their price objective 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. Two investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Price Performance

NYSE:ABT opened at $130.59 on Monday. The firm has a market cap of $227.08 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average is $130.38 and its two-hundred day moving average is $131.36.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Research analysts expect that Abbott Laboratories will post 5.14 EPS for the current 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 issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

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.