Abbott Laboratories $ABT Shares Sold by Ayrshire Capital Management LLC

Key Points

• Ayrshire Capital Management LLC reduced its stake in Abbott Laboratories by 10.5%, selling 4,641 shares and now holding 39,526 shares valued at approximately $5.38 million.
• Several institutional investors, including Dynamic Advisor Solutions LLC, increased their holdings in Abbott Laboratories significantly during the same quarter, with some reporting up to a 53.8% increase in their positions.
• Abbott Laboratories' stock performance remains strong, with a recent quarterly earnings report matching expectations, resulting in a current consensus target price of $144.47 among analysts.

Ayrshire Capital Management LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 10.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,526 shares of the healthcare product maker's stock after selling 4,641 shares during the quarter. Abbott Laboratories accounts for approximately 2.6% of Ayrshire Capital Management LLC's investment portfolio, making the stock its 22nd largest holding. Ayrshire Capital Management LLC's holdings in Abbott Laboratories were worth $5,376,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ABT. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories during the first quarter worth $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories in the first quarter valued at about $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories in the first quarter valued at about $30,000. Wormser Freres Gestion bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $32,000. Finally, JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories in the first quarter valued at about $32,000. 75.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Abbott Laboratories

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 transaction of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Price Performance

Shares of ABT stock traded up $1.65 during trading hours on Friday, hitting $136.22. 11,531,874 shares of the company's stock were exchanged, compared to its average volume of 4,828,819. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The firm has a market cap of $237.09 billion, a P/E ratio of 17.07, a P/E/G ratio of 2.55 and a beta of 0.69. The firm has a 50 day moving average of $130.47 and a two-hundred day moving average of $131.19. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

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

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.7%. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Analyst Ratings Changes

ABT has been the subject of several recent research reports. Evercore ISI lifted their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their price objective for the company from $143.00 to $145.00 in a report on Friday, July 18th. Royal Bank Of Canada lifted their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, Leerink Partners began coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of "Moderate Buy" and a consensus price target of $145.22.

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.