DnB Asset Management AS Sells 18,174 Shares of Abbott Laboratories $ABT

DnB Asset Management AS reduced its stake in Abbott Laboratories (NYSE:ABT) by 3.2% during the first quarter, HoldingsChannel.com reports. The firm owned 555,396 shares of the healthcare product maker’s stock after selling 18,174 shares during the quarter. DnB Asset Management AS’s holdings in Abbott Laboratories were worth $73,673,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after purchasing an additional 4,755 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in shares of Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker’s stock worth $17,274,000 after buying an additional 2,774 shares in the last quarter. Crestline Management LP increased its position in shares of Abbott Laboratories by 37.5% during the fourth quarter. Crestline Management LP now owns 18,595 shares of the healthcare product maker’s stock valued at $2,103,000 after acquiring an additional 5,071 shares in the last quarter. CoreCap Advisors LLC lifted its position in Abbott Laboratories by 14.5% in the 4th quarter. CoreCap Advisors LLC now owns 19,012 shares of the healthcare product maker’s stock valued at $2,150,000 after acquiring an additional 2,404 shares in the last quarter. Finally, Colonial Trust Co SC boosted its stake in Abbott Laboratories by 7.7% during the 4th quarter. Colonial Trust Co SC now owns 9,740 shares of the healthcare product maker’s stock valued at $1,102,000 after purchasing an additional 698 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.4%

ABT stock opened at $132.01 on Thursday. The business’s 50-day moving average price is $130.73 and its 200-day moving average price is $131.36. The stock has a market cap of $229.75 billion, a P/E ratio of 16.54, a PEG ratio of 2.52 and a beta of 0.69. 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 has a twelve month low of $110.86 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts’ consensus estimates of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 EPS. 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, equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ABT shares. Wells Fargo & Company lowered their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, July 18th. William Blair raised Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Morgan Stanley lifted their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Royal Bank Of Canada raised their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Finally, Evercore ISI upped their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.47.

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.