RMG Wealth Management LLC Acquires Shares of 410 Abbott Laboratories $ABT

RMG Wealth Management LLC acquired a new stake in shares of Abbott Laboratories (NYSE:ABT) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 410 shares of the healthcare product maker’s stock, valued at approximately $51,000.

Other institutional investors have also modified their holdings of the company. Kelly Financial Services LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at about $216,000. Edge Financial Advisors LLC grew its position in shares of Abbott Laboratories by 3.3% during the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker’s stock valued at $336,000 after acquiring an additional 81 shares during the period. Avanza Fonder AB grew its position in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after acquiring an additional 655 shares during the period. Madrona Financial Services LLC grew its position in shares of Abbott Laboratories by 9.7% during the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after acquiring an additional 152 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Abbott Laboratories by 12.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock valued at $91,109,000 after acquiring an additional 73,780 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was 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 trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Down 0.5%

ABT stock opened at $133.05 on Wednesday. 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 has a 12-month low of $110.86 and a 12-month high of $141.23. The stock has a market cap of $231.58 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 2.54 and a beta of 0.69. The business’s 50-day moving average is $132.19 and its 200 day moving average is $131.45.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period last year, the company posted $1.14 EPS. The business’s revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS 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 issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ABT shares. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Wells Fargo & Company dropped their target price on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Jefferies Financial Group upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and raised their target price for the company from $143.00 to $145.00 in a research report on Friday, July 18th. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Saturday, September 27th. Finally, Mizuho lifted their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $146.24.

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.