Curat Global LLC Cuts Stake in Abbott Laboratories $ABT

Curat Global LLC reduced its holdings in shares of Abbott Laboratories (NYSE:ABT) by 38.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,135 shares of the healthcare product maker’s stock after selling 2,000 shares during the period. Curat Global LLC’s holdings in Abbott Laboratories were worth $426,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Brighton Jones LLC grew its holdings in Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after acquiring an additional 4,755 shares in the last quarter. Jaffetilchin Investment Partners LLC grew its holdings in Abbott Laboratories by 12.0% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,163 shares of the healthcare product maker’s stock worth $287,000 after acquiring an additional 232 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Abbott Laboratories by 4.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 245,966 shares of the healthcare product maker’s stock worth $31,291,000 after acquiring an additional 11,419 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Abbott Laboratories by 11.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 525,080 shares of the healthcare product maker’s stock worth $69,148,000 after acquiring an additional 54,986 shares in the last quarter. Finally, Aljian Capital Management LLC acquired a new position in Abbott Laboratories during the 1st quarter worth approximately $413,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on ABT. Evercore ISI lowered their price target on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Royal Bank Of Canada restated an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Barclays upped their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Finally, The Goldman Sachs Group upped their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Stock Up 0.3%

Shares of NYSE:ABT opened at $126.78 on Monday. The stock has a market cap of $220.65 billion, a P/E ratio of 15.89, a P/E/G ratio of 2.41 and a beta of 0.69. The firm has a fifty day moving average price of $132.09 and a 200 day moving average price of $131.64. 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 has a 1-year low of $110.86 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. Abbott Laboratories’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Insiders Place Their Bets

In related 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 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 corporate insiders.

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.