Abbott Laboratories $ABT Shares Sold by Lbp Am Sa

Key Points

• Lbp Am Sa significantly reduced its stake in Abbott Laboratories by 80.5%, owning 28,900 shares after selling 119,571 shares during the second quarter.
• Abbott Laboratories has an average rating of "Moderate Buy" from analysts, with a consensus price target of $145.39, and notable firms have raised their target prices recently.
• The company reported $1.26 earnings per share, meeting analyst expectations, and declared a $0.59 quarterly dividend, reflecting a yield of 1.8%.

Lbp Am Sa cut its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 80.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,900 shares of the healthcare product maker's stock after selling 119,571 shares during the quarter. Lbp Am Sa's holdings in Abbott Laboratories were worth $3,931,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ABT. Kelly Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth about $216,000. Edge Financial Advisors LLC increased its position in shares of Abbott Laboratories by 3.3% during 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 last quarter. Avanza Fonder AB increased its position in shares of Abbott Laboratories by 0.4% during the 2nd 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 during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Abbott Laboratories by 12.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker's stock worth $91,109,000 after purchasing an additional 73,780 shares during the last quarter. Finally, SageView Advisory Group LLC increased its position in shares of Abbott Laboratories by 18.6% during the 1st quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker's stock worth $2,427,000 after purchasing an additional 2,873 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Leerink Partners assumed coverage on Abbott Laboratories in a research report on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price for the company. Morgan Stanley lifted 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. Evercore ISI lifted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Mizuho lifted their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, William Blair raised Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Two 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.com, Abbott Laboratories currently has an average rating of "Moderate Buy" and a consensus price target of $145.39.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction that occurred 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 owned 51,003 shares in the company, valued at $6,862,453.65. The trade was 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 through the SEC website. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Stock Performance

Shares of ABT opened at $133.05 on Friday. The stock has a 50-day simple moving average of $131.78 and a 200-day simple moving average of $131.28. 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 stock has a market capitalization of $231.56 billion, a PE ratio of 16.67, a PEG ratio of 2.53 and a beta of 0.69. 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 earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting the consensus estimate of $1.26. The firm 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 revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business 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, analysts predict 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 will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories's payout ratio is presently 29.57%.

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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