Global Trust Asset Management LLC Decreases Stock Position in Abbott Laboratories $ABT

Global Trust Asset Management LLC cut its position in Abbott Laboratories (NYSE:ABT) by 16.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 749 shares of the healthcare product maker’s stock after selling 150 shares during the quarter. Global Trust Asset Management LLC’s holdings in Abbott Laboratories were worth $102,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Independence Bank of Kentucky lifted its holdings in Abbott Laboratories by 0.7% during the second quarter. Independence Bank of Kentucky now owns 33,213 shares of the healthcare product maker’s stock valued at $4,517,000 after purchasing an additional 235 shares during the last quarter. Smith Salley Wealth Management raised its position in shares of Abbott Laboratories by 2.8% in the second quarter. Smith Salley Wealth Management now owns 182,078 shares of the healthcare product maker’s stock valued at $24,764,000 after purchasing an additional 4,882 shares during the period. City Holding Co. boosted its holdings in Abbott Laboratories by 3.6% in the 2nd quarter. City Holding Co. now owns 44,907 shares of the healthcare product maker’s stock worth $6,108,000 after buying an additional 1,557 shares during the period. Symmetry Partners LLC purchased a new position in Abbott Laboratories in the 2nd quarter valued at approximately $274,000. Finally, Patton Albertson Miller Group LLC raised its holdings in Abbott Laboratories by 2.7% during the 2nd quarter. Patton Albertson Miller Group LLC now owns 12,734 shares of the healthcare product maker’s stock valued at $1,732,000 after acquiring an additional 332 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction 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 sale, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. The trade was 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 link. 0.46% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ABT shares. Morgan Stanley lifted their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Royal Bank Of Canada lifted their target price on Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Evercore ISI upped their price target on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Raymond James Financial cut their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, July 18th. Finally, BTIG Research decreased their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.22.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $133.01 on Tuesday. The firm has a market cap of $231.49 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.53 and a beta of 0.69. The company’s fifty day simple moving average is $131.31 and its two-hundred day simple moving average is $131.20. 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 12-month low of $110.86 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period last year, the firm earned $1.14 earnings per share. Abbott Laboratories’s quarterly 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. As a group, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend 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.