Bar Harbor Wealth Management Sells 2,058 Shares of Abbott Laboratories $ABT

Bar Harbor Wealth Management decreased its position in Abbott Laboratories (NYSE:ABT) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 137,655 shares of the healthcare product maker’s stock after selling 2,058 shares during the period. Abbott Laboratories accounts for 1.2% of Bar Harbor Wealth Management’s portfolio, making the stock its 20th largest position. Bar Harbor Wealth Management’s holdings in Abbott Laboratories were worth $18,722,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new position in Abbott Laboratories in the first quarter valued at about $27,000. Abound Financial LLC bought a new position in Abbott Laboratories during the first quarter worth about $28,000. Elequin Capital LP bought a new position in Abbott Laboratories during the first quarter worth about $30,000. JCIC Asset Management Inc. bought a new position in Abbott Laboratories during the first quarter worth about $32,000. Finally, Vision Financial Markets LLC bought a new position in Abbott Laboratories during the first quarter worth about $33,000. 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 company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Stock Performance

ABT opened at $134.45 on Thursday. The business has a fifty day simple moving average of $132.30 and a 200 day simple moving average of $131.48. The company has a market capitalization of $234.00 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a 1 year low of $110.86 and a 1 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.

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

Abbott Laboratories Announces Dividend

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 given a $0.59 dividend. 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 payout ratio is 29.57%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABT. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. The Goldman Sachs Group raised their target price on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Leerink Partners started coverage on Abbott Laboratories in a report on Monday, June 16th. They set a “market perform” rating and a $143.00 target price on the stock. Morgan Stanley raised their price target on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Wells Fargo & Company dropped their price target 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 research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $146.24.

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.