Abbott Laboratories $ABT Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in Abbott Laboratories (NYSE:ABT) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,592,410 shares of the healthcare product maker’s stock after selling 46,296 shares during the quarter. PNC Financial Services Group Inc. owned 0.26% of Abbott Laboratories worth $624,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Avanza Fonder AB lifted its stake in shares of Abbott Laboratories by 0.4% during the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after purchasing an additional 655 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Abbott Laboratories by 12.4% in the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock valued at $91,109,000 after purchasing an additional 73,780 shares during the period. Madrona Financial Services LLC grew its holdings in Abbott Laboratories by 9.7% during the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after purchasing an additional 152 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of Abbott Laboratories by 0.5% during the second quarter. State of Michigan Retirement System now owns 473,057 shares of the healthcare product maker’s stock valued at $64,340,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Dillon & Associates Inc. increased its position in shares of Abbott Laboratories by 1.9% during the second quarter. Dillon & Associates Inc. now owns 218,655 shares of the healthcare product maker’s stock worth $29,737,000 after acquiring an additional 4,095 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Shares of ABT opened at $126.98 on Wednesday. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The stock’s fifty day moving average is $130.56 and its 200-day moving average is $131.37. 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 firm has a market capitalization of $220.80 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same period last year, the company posted $1.21 EPS. The firm’s quarterly revenue 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 analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid 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 currently 29.57%.

Wall Street Analyst Weigh In

A number of research analysts have commented on ABT shares. Benchmark assumed coverage on Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 target price on the stock. Jefferies Financial Group increased their price target on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Evercore ISI reduced their price objective on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Mizuho increased their target price on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $147.00.

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.