Abbott Laboratories $ABT Shares Sold by Chelsea Counsel Co.

Chelsea Counsel Co. cut its position in Abbott Laboratories (NYSE:ABT) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,311 shares of the healthcare product maker’s stock after selling 500 shares during the quarter. Abbott Laboratories comprises 1.4% of Chelsea Counsel Co.’s holdings, making the stock its 20th biggest position. Chelsea Counsel Co.’s holdings in Abbott Laboratories were worth $2,898,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC purchased a new position in shares of Abbott Laboratories in the first quarter worth approximately $1,658,180,000. Goldman Sachs Group Inc. boosted its holdings in shares of Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after buying an additional 3,616,471 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Abbott Laboratories by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after buying an additional 3,371,113 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Abbott Laboratories by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock valued at $1,916,966,000 after purchasing an additional 1,639,954 shares during the last quarter. Finally, Jensen Investment Management Inc. increased its holdings in Abbott Laboratories by 1,221.2% in the 1st quarter. Jensen Investment Management Inc. now owns 1,365,785 shares of the healthcare product maker’s stock valued at $181,171,000 after buying an additional 1,262,407 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ABT has been the topic of a number of research analyst reports. Leerink Partners began coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They set a “market perform” rating and a $143.00 price objective on the stock. Evercore ISI raised their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Royal Bank Of Canada raised their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Raymond James Financial reduced 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, Wells Fargo & Company reduced their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.22.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $133.97 on Wednesday. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The business’s 50 day simple moving average is $131.48 and its 200 day simple moving average is $131.22. The stock has a market capitalization of $233.17 billion, a PE ratio of 16.79, a PEG ratio of 2.52 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued 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. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.Abbott Laboratories’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 earnings per share. 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, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed 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 of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) 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.