Abbott Laboratories $ABT Position Lessened by 1248 Management LLC

Key Points

• 1248 Management LLC has reduced its holdings in Abbott Laboratories by 30.9%, now owning 6,105 shares valued at approximately $810,000.
• Abbott Laboratories stock recently opened at $132.59, with a market capitalization of $230.76 billion and a twelve month high of $141.23.
• The company announced a quarterly dividend of $0.59 per share, representing a yield of 1.8%, with a payout ratio of 29.57%.

1248 Management LLC reduced its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 30.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,105 shares of the healthcare product maker's stock after selling 2,732 shares during the quarter. 1248 Management LLC's holdings in Abbott Laboratories were worth $810,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new position in Abbott Laboratories during the 1st quarter valued at $27,000. Abound Financial LLC bought a new position in Abbott Laboratories during the 1st quarter valued at $28,000. Elequin Capital LP bought a new position in Abbott Laboratories during the 1st quarter valued at $30,000. Wormser Freres Gestion bought a new position in Abbott Laboratories during the 4th quarter valued at $32,000. Finally, JCIC Asset Management Inc. bought a new position in Abbott Laboratories during the 1st quarter valued at $32,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Up 0.1%

Shares of ABT traded up $0.11 during mid-day trading on Friday, reaching $132.92. The company's stock had a trading volume of 3,286,796 shares, compared to its average volume of 5,085,004. The business has a fifty day moving average of $130.68 and a 200 day moving average of $131.39. The company has a market cap of $231.33 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.26. The company had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. As a group, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were issued a $0.59 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the 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 completion of the sale, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABT. Evercore ISI raised their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and raised their price objective for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Leerink Partners began coverage on Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective for the company. Wells Fargo & Company reduced their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Finally, Royal Bank Of Canada raised their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $144.47.

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.