Confluence Wealth Services Inc. Sells 1,161 Shares of Abbott Laboratories $ABT

Confluence Wealth Services Inc. lowered its holdings in shares of Abbott Laboratories (NYSE:ABT) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,807 shares of the healthcare product maker’s stock after selling 1,161 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Abbott Laboratories were worth $4,190,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABT. Brighton Jones LLC increased its stake in shares of 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. Congress Asset Management Co. grew its holdings in Abbott Laboratories by 6.3% during the first quarter. Congress Asset Management Co. now owns 3,529 shares of the healthcare product maker’s stock valued at $468,000 after purchasing an additional 210 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Abbott Laboratories by 4.1% in the first quarter. Sivia Capital Partners LLC now owns 4,606 shares of the healthcare product maker’s stock worth $611,000 after buying an additional 180 shares during the period. UMB Bank n.a. lifted its position in shares of Abbott Laboratories by 20.1% during the 1st quarter. UMB Bank n.a. now owns 307,903 shares of the healthcare product maker’s stock valued at $40,843,000 after buying an additional 51,511 shares in the last quarter. Finally, Wedmont Private Capital grew its stake in shares of Abbott Laboratories by 51.9% during the 1st quarter. Wedmont Private Capital now owns 29,190 shares of the healthcare product maker’s stock valued at $3,704,000 after acquiring an additional 9,976 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 firm’s 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 completion of the transaction, the chief financial officer directly 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ABT shares. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Saturday, September 27th. Leerink Partners initiated coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 price objective on the stock. Royal Bank Of Canada upped their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. William Blair raised Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Finally, Wells Fargo & Company lowered their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.39.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $134.49 on Monday. The company has a market cap of $234.07 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.55 and a beta of 0.69. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The firm’s fifty day moving average is $131.94 and its two-hundred day moving average is $131.39.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.26. The firm had revenue of $11.14 billion during 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%.The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $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, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. 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 is 29.57%.

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.