Montgomery Investment Management Inc. Sells 1,500 Shares of Abbott Laboratories $ABT

Montgomery Investment Management Inc. lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 9.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 14,775 shares of the healthcare product maker’s stock after selling 1,500 shares during the period. Montgomery Investment Management Inc.’s holdings in Abbott Laboratories were worth $2,010,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Consilium Wealth Advisory LLC raised its holdings in shares of Abbott Laboratories by 2.1% during the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock worth $507,000 after acquiring an additional 78 shares in the last quarter. Mayflower Financial Advisors LLC raised its stake in Abbott Laboratories by 0.5% during 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 purchasing an additional 78 shares in the last quarter. FF Advisors LLC raised its stake in Abbott Laboratories by 4.3% during the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock valued at $259,000 after purchasing an additional 79 shares in the last quarter. Charles Schwab Trust Co raised its stake in Abbott Laboratories by 0.6% during the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after purchasing an additional 79 shares in the last quarter. Finally, Opes Wealth Management LLC raised its stake in Abbott Laboratories by 2.9% during the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock valued at $379,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ABT shares. Evercore ISI upped their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Mizuho upped their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Royal Bank Of Canada increased their price target on Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Morgan Stanley increased their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Finally, Jefferies Financial Group raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and increased their target price for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $145.39.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Down 0.3%

Shares of NYSE ABT opened at $133.53 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The business’s 50 day moving average price is $131.63 and its 200-day moving average price is $131.24. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a market cap of $232.39 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.54 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The business’s 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. On average, sell-side 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. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories’s dividend payout ratio (DPR) is 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.