Abbott Laboratories $ABT Position Trimmed by RNC Capital Management LLC

Key Points

• RNC Capital Management LLC reduced its holdings in Abbott Laboratories by 19.4% during the first quarter, resulting in ownership of 11,120 shares valued at approximately $1.475 million.
• Abbott Laboratories reported a quarterly earnings per share (EPS) of $1.26, meeting analyst expectations, with a revenue of $11.14 billion reflected a year-over-year increase of 7.4%.
• The company declared a quarterly dividend of $0.59 per share, with an annualized yield of 1.8%, and has set its fiscal year 2025 EPS guidance at 5.100-5.200.

RNC Capital Management LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 19.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,120 shares of the healthcare product maker's stock after selling 2,676 shares during the period. RNC Capital Management LLC's holdings in Abbott Laboratories were worth $1,475,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Kelly Financial Services LLC acquired a new position in Abbott Laboratories in the 1st quarter worth approximately $216,000. Bank Pictet & Cie Europe AG boosted its stake in Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after purchasing an additional 2,774 shares during the period. Edge Financial Advisors LLC boosted its stake in Abbott Laboratories by 3.3% in the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock worth $336,000 after purchasing an additional 81 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Abbott Laboratories in the 4th quarter worth approximately $84,418,000. Finally, Cerity Partners LLC boosted its stake in Abbott Laboratories by 49.8% in the 1st quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker's stock worth $199,939,000 after purchasing an additional 501,200 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $132.92 on Monday. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $231.33 billion, a PE ratio of 16.66, a PEG ratio of 2.52 and a beta of 0.69. The firm's fifty day simple moving average is $130.68 and its 200 day simple moving average is $131.38. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business's quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $1.14 EPS. 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 anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ABT shares. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Evercore ISI increased their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and increased their target price for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Finally, Wells Fargo & Company cut their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $144.47.

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.

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