Abbott Laboratories $ABT Shares Sold by NBT Bank N A NY

Key Points

• NBT Bank N A NY reduced its stake in Abbott Laboratories by 4.2%, now holding 105,811 shares valued at approximately $14.39 million.
• Shares of Abbott Laboratories received target price upgrades from various analysts, with the average target now at $146.24, and a consensus rating of "Moderate Buy".
• Abbott Laboratories announced a quarterly dividend of $0.59, scheduled for payment on November 17, representing an annualized yield of 1.8%.

NBT Bank N A NY reduced its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 4.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 105,811 shares of the healthcare product maker's stock after selling 4,590 shares during the period. Abbott Laboratories makes up approximately 1.0% of NBT Bank N A NY's portfolio, making the stock its 22nd biggest holding. NBT Bank N A NY's holdings in Abbott Laboratories were worth $14,391,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter worth about $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter worth about $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories during the 1st quarter worth about $30,000. JCIC Asset Management Inc. purchased a new stake in shares of Abbott Laboratories during the 1st quarter worth about $32,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter worth about $33,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ABT shares. Mizuho increased their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Morgan Stanley increased their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Evercore ISI upped their price target on shares of Abbott Laboratories from $140.00 to $144.00 and gave the stock an "outperform" rating in a research report on Tuesday. Royal Bank Of Canada upped their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $146.24.

Abbott Laboratories Stock Down 0.5%

ABT opened at $133.05 on Wednesday. The company has a market cap of $231.58 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. 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 has a twelve month low of $110.86 and a twelve month high of $141.23. The company has a 50-day moving average price of $132.19 and a 200 day moving average price of $131.45.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting 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 net margin of 32.43% and a return on equity of 18.32%. Abbott Laboratories's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm 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 expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction dated Friday, August 8th. The shares were 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 approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company's stock.

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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