Abbott Laboratories $ABT Shares Sold by Wendell David Associates Inc.

Key Points

• Wendell David Associates Inc. reduced its holdings in Abbott Laboratories by 1.1%, owning 217,823 shares valued at approximately $29.63 million.
• The company reported a quarterly earnings per share of $1.30, matching analysts' expectations, with a slight year-over-year revenue increase of 6.9%.
• Abbott Laboratories declared a quarterly dividend of $0.59 per share, representing a 1.8% dividend yield and will be paid on November 17th.

Wendell David Associates Inc. trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 217,823 shares of the healthcare product maker's stock after selling 2,496 shares during the period. Abbott Laboratories makes up about 3.0% of Wendell David Associates Inc.'s portfolio, making the stock its 9th biggest position. Wendell David Associates Inc.'s holdings in Abbott Laboratories were worth $29,626,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker's stock valued at $22,527,039,000 after purchasing an additional 1,177,739 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Abbott Laboratories by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock valued at $3,948,117,000 after purchasing an additional 3,371,113 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock valued at $2,120,516,000 after purchasing an additional 3,616,471 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Abbott Laboratories by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker's stock valued at $1,916,966,000 after purchasing an additional 1,639,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Abbott Laboratories by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker's stock valued at $1,738,831,000 after purchasing an additional 168,095 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 0.8%

ABT stock opened at $128.69 on Friday. The company has a market cap of $223.98 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.44 and a beta of 0.69. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The firm has a 50-day moving average of $132.38 and a two-hundred day moving average of $131.54.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts' consensus estimates of $1.30. The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. Abbott Laboratories's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 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 will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories's payout ratio is presently 29.57%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ABT. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an "overweight" rating in a report on Thursday. Morgan Stanley boosted their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Mizuho boosted their price target on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, October 14th. Finally, Raymond James Financial boosted their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an "outperform" rating in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.61.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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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