Abbott Laboratories $ABT Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in Abbott Laboratories by 0.8% during Q2, now owning 1,684,770 shares, which represents about 2.0% of their total holdings.
• Several brokerages recently raised their price targets for Abbott Laboratories, with Barclays setting a new target of $162.00, indicating a positive outlook for the stock.
• Abbott Laboratories declared a quarterly dividend of $0.59 per share, with an annualized yield of 1.8%, set to be paid on November 17th.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,684,770 shares of the healthcare product maker's stock after selling 14,103 shares during the quarter. Abbott Laboratories accounts for approximately 2.0% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings, making the stock its 15th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.10% of Abbott Laboratories worth $229,146,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Avanza Fonder AB boosted its holdings in Abbott Laboratories by 0.4% in the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker's stock worth $22,904,000 after acquiring an additional 655 shares in the last quarter. Madrona Financial Services LLC boosted its holdings in Abbott Laboratories by 9.7% in the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker's stock worth $235,000 after acquiring an additional 152 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Abbott Laboratories by 12.4% in the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker's stock worth $91,109,000 after acquiring an additional 73,780 shares in the last quarter. SageView Advisory Group LLC boosted its holdings in Abbott Laboratories by 18.6% in the first quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker's stock worth $2,427,000 after acquiring an additional 2,873 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in Abbott Laboratories by 49.8% in the first quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker's stock worth $199,939,000 after acquiring an additional 501,200 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ABT. Barclays raised their price objective on Abbott Laboratories from $159.00 to $162.00 and gave the stock an "overweight" rating in a research note on Friday, October 17th. Mizuho raised their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 14th. Royal Bank Of Canada restated an "outperform" rating and issued a $147.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 16th. The Goldman Sachs Group raised their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Finally, William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $147.00.

Insider Activity at Abbott Laboratories

In other 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 value of $746,752.50. Following the completion of the sale, the chief financial officer directly 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 filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by company insiders.

Abbott Laboratories Stock Up 0.2%

Shares of ABT stock opened at $127.83 on Thursday. The stock has a 50 day moving average of $132.25 and a 200 day moving average of $131.52. 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 stock has a market cap of $222.48 billion, a P/E ratio of 16.02, a P/E/G ratio of 2.42 and a beta of 0.69. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. The company had revenue of $11.37 billion during the quarter, compared to analysts' expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.Abbott Laboratories's quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, sell-side analysts expect 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 will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 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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