Drake & Associates LLC Has $883,000 Stake in Abbott Laboratories $ABT

Drake & Associates LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 2.7% in the second quarter, HoldingsChannel.com reports. The firm owned 6,489 shares of the healthcare product maker’s stock after selling 181 shares during the quarter. Drake & Associates LLC’s holdings in Abbott Laboratories were worth $883,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ABT. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories during the first quarter worth $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories in the first quarter worth about $28,000. Elequin Capital LP bought a new stake in Abbott Laboratories during the 1st quarter worth about $30,000. JCIC Asset Management Inc. acquired a new position in Abbott Laboratories during the 1st quarter valued at about $32,000. Finally, Vision Financial Markets LLC bought a new position in shares of Abbott Laboratories in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction 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 $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Raymond James Financial cut their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a report on Friday, July 18th. The Goldman Sachs Group raised their price target on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Mizuho lifted their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. BTIG Research cut their target price on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Finally, Leerink Partners initiated coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.39.

Abbott Laboratories Stock Performance

ABT stock opened at $133.63 on Tuesday. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The firm has a market cap of $232.58 billion, a PE ratio of 16.75, a P/E/G ratio of 2.55 and a beta of 0.69. The business’s 50-day moving average price is $132.08 and its two-hundred day moving average price is $131.44.

Abbott Laboratories (NYSE:ABT) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories’s payout ratio is presently 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.