Abbott Laboratories $ABT Shares Sold by Private Wealth Partners LLC

Private Wealth Partners LLC cut its stake in Abbott Laboratories (NYSE:ABT) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,924 shares of the healthcare product maker’s stock after selling 207 shares during the quarter. Private Wealth Partners LLC’s holdings in Abbott Laboratories were worth $2,846,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Abbott Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker’s stock valued at $22,527,039,000 after buying an additional 1,177,739 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after buying an additional 3,371,113 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock valued at $2,120,516,000 after buying an additional 3,616,471 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Abbott Laboratories by 12.8% in the first 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 buying an additional 1,639,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Abbott Laboratories by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker’s stock valued at $1,738,831,000 after buying an additional 168,095 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ABT shares. Wells Fargo & Company boosted their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Raymond James Financial boosted their price target on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Royal Bank Of Canada reiterated an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. Benchmark assumed coverage on Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 price target for the company. Finally, BTIG Research reiterated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Stock Up 0.2%

Shares of NYSE:ABT opened at $127.16 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average of $132.03 and a two-hundred day moving average of $131.64. The stock has a market cap of $221.31 billion, a P/E ratio of 15.93, a PEG ratio of 2.41 and a beta of 0.69. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23.

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

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

About Abbott Laboratories

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.