Amundi Sells 623,608 Shares of Abbott Laboratories $ABT

Key Points

• Amundi has reduced its stake in Abbott Laboratories by 9.0%, selling 623,608 shares during the first quarter, now holding 6,290,489 shares.
• Analyst ratings for Abbott Laboratories show a consensus of "Moderate Buy" with a current price target of $144.47.
• Abbott Laboratories recently announced a quarterly dividend of $0.59 per share, reflecting an annualized yield of 1.8% and a payout ratio of 29.57%.

Amundi reduced its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,290,489 shares of the healthcare product maker's stock after selling 623,608 shares during the quarter. Amundi owned about 0.36% of Abbott Laboratories worth $828,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

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 on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade 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 can be accessed through this link. Company insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley increased their target price on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Mizuho raised their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. BTIG Research cut their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Finally, Royal Bank Of Canada raised their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $144.47.

Abbott Laboratories Trading Up 0.1%

ABT traded up $0.11 during trading on Friday, reaching $132.92. The company had a trading volume of 3,286,796 shares, compared to its average volume of 5,085,004. The stock has a market cap of $231.33 billion, a P/E ratio of 16.66, a PEG ratio of 2.52 and a beta of 0.69. The business has a 50 day simple moving average of $130.68 and a 200-day simple moving average of $131.39. Abbott Laboratories has a 52 week low of $110.86 and a 52 week 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 issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.26. The company had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.Abbott Laboratories's revenue was up 7.4% on a year-over-year basis. During the same period last 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. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

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.