Next Capital Management LLC Purchases New Shares in Abbott Laboratories $ABT

Next Capital Management LLC acquired a new stake in shares of Abbott Laboratories (NYSE:ABT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,634 shares of the healthcare product maker’s stock, valued at approximately $222,000.

Other hedge funds have also recently made changes to their positions in the company. IMG Wealth Management Inc. increased its stake in 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 acquiring an additional 167 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of Abbott Laboratories during the 1st quarter valued at approximately $27,000. Abound Financial LLC bought a new position in Abbott Laboratories during the first quarter valued at $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories in the first quarter valued at $30,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter worth about $33,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on ABT shares. Mizuho increased their price objective on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Wells Fargo & Company increased their price target on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Daiwa Capital Markets boosted their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. 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. Finally, William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Up 0.1%

ABT opened at $123.77 on Tuesday. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a market capitalization of $215.22 billion, a P/E ratio of 15.51, a PEG ratio of 2.36 and a beta of 0.69. The stock’s fifty day moving average is $131.29 and its two-hundred day moving average is $131.56. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results 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. The business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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

Abbott Laboratories 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.