Menlo Advisors LLC Sells 1,450 Shares of Abbott Laboratories $ABT

Menlo Advisors LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,536 shares of the healthcare product maker’s stock after selling 1,450 shares during the quarter. Abbott Laboratories accounts for approximately 4.9% of Menlo Advisors LLC’s investment portfolio, making the stock its 9th largest position. Menlo Advisors LLC’s holdings in Abbott Laboratories were worth $9,185,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mayflower Financial Advisors LLC boosted its position in Abbott Laboratories by 0.5% in the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock valued at $2,298,000 after buying an additional 78 shares in the last quarter. FF Advisors LLC lifted its stake in shares of Abbott Laboratories by 4.3% in the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock valued at $259,000 after acquiring an additional 79 shares during the last quarter. Charles Schwab Trust Co boosted its holdings in shares of Abbott Laboratories by 0.6% during the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after acquiring an additional 79 shares in the last quarter. Bridgewater Advisors Inc. grew its position in Abbott Laboratories by 0.6% during the 2nd quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock worth $1,607,000 after acquiring an additional 79 shares during the last quarter. Finally, Opes Wealth Management LLC increased its holdings in Abbott Laboratories by 2.9% in the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock worth $379,000 after purchasing an additional 80 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $126.28 on Friday. The firm has a market capitalization of $219.59 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.36 and a beta of 0.68. The firm’s 50-day moving average price is $130.78 and its 200-day moving average price is $131.40. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted 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. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the business earned $1.21 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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 given a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Daiwa Capital Markets lifted their price target on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Benchmark initiated coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 target price on the stock. Raymond James Financial upped their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Sanford C. Bernstein lifted their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Barclays boosted their price objective on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $147.00.

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.