Abbott Laboratories $ABT Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Abbott Laboratories by 4.8%, selling 405,306 shares during the first quarter, leaving them with 7,953,392 shares worth over $1 billion.
• Abbott Laboratories reported a net margin of 32.43% and a quarterly revenue that increased by 7.4% year-over-year, meeting earnings expectations with an EPS of $1.26.
• The company announced a quarterly dividend of $0.59 per share, reflecting an annualized dividend yield of 1.8%.

T. Rowe Price Investment Management Inc. decreased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 4.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 7,953,392 shares of the healthcare product maker's stock after selling 405,306 shares during the period. T. Rowe Price Investment Management Inc. owned 0.46% of Abbott Laboratories worth $1,055,018,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Cim LLC raised its stake in Abbott Laboratories by 0.4% during the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock worth $1,919,000 after purchasing an additional 73 shares during the period. Consilium Wealth Advisory LLC raised its stake in Abbott Laboratories by 2.1% during the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock worth $507,000 after purchasing an additional 78 shares during the period. Mayflower Financial Advisors LLC raised its stake in Abbott Laboratories by 0.5% during the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock worth $2,298,000 after purchasing an additional 78 shares during the period. Opes Wealth Management LLC raised its stake in Abbott Laboratories by 2.9% during the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock worth $379,000 after purchasing an additional 80 shares during the period. Finally, Lcnb Corp raised its stake in Abbott Laboratories by 0.5% during the first quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker's stock worth $2,111,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 75.18% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ABT. Leerink Partners began coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 price target on the stock. Raymond James Financial cut their target price on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research note on Friday, July 18th. Wells Fargo & Company cut their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. BTIG Research cut their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Finally, Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

Abbott Laboratories Stock Up 0.3%

ABT traded up $0.4120 during trading hours on Friday, reaching $132.4120. 4,130,154 shares of the stock traded hands, compared to its average volume of 5,721,513. The firm's fifty day simple moving average is $131.08 and its two-hundred day simple moving average is $131.29. The company has a market cap of $230.46 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 2.50 and a beta of 0.70. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30.

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

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction on Friday, August 8th. The shares were 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 of the company's stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.46% of the company's stock.

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.