Marco Investment Management LLC Sells 749 Shares of Abbott Laboratories $ABT

Marco Investment Management LLC lowered its holdings in Abbott Laboratories (NYSE:ABT) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,898 shares of the healthcare product maker’s stock after selling 749 shares during the quarter. Marco Investment Management LLC’s holdings in Abbott Laboratories were worth $8,419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABT. IMG Wealth Management Inc. raised its stake in Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 167 shares in the last quarter. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at $27,000. Elequin Capital LP bought a new position in shares of Abbott Laboratories in the 1st quarter worth $30,000. Vision Financial Markets LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter worth $33,000. Finally, Accent Capital Management LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $38,000. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ABT shares. Evercore ISI dropped their target price on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. BTIG Research reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Mizuho raised their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Finally, Daiwa Capital Markets boosted their price objective on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $126.28 on Friday. The stock has a market cap of $219.59 billion, a price-to-earnings ratio of 15.82, a PEG 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 50 day simple moving average of $130.78 and a two-hundred day simple moving average of $131.40. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the previous year, the firm posted $1.21 earnings per share. The firm’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. As a group, analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

About Abbott Laboratories

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.