Abbott Laboratories $ABT Stake Lessened by Lmcg Investments LLC

Key Points

• Lmcg Investments LLC reduced its stake in Abbott Laboratories by 3.4%, now holding 143,732 shares valued at approximately $19.5 million, making it the 18th largest holding in their portfolio.
• Abbott Laboratories reported quarterly earnings of $1.26 per share, matching analyst expectations, with a revenue increase of 7.4% year-over-year.
• The company declared a quarterly dividend of $0.59 per share, representing a 1.8% yield, payable to shareholders on November 17th.

Lmcg Investments LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 143,732 shares of the healthcare product maker's stock after selling 5,005 shares during the period. Abbott Laboratories comprises about 1.2% of Lmcg Investments LLC's portfolio, making the stock its 18th largest holding. Lmcg Investments LLC's holdings in Abbott Laboratories were worth $19,549,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Abbott Laboratories by 0.7% during the first 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 during the last quarter. Wellington Management Group LLP increased its stake in Abbott Laboratories by 12.8% during the first 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 during the last quarter. Goldman Sachs Group Inc. increased its stake in Abbott Laboratories by 29.2% during the first 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 during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Abbott Laboratories by 12.8% during the first 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Abbott Laboratories by 1.3% during the first 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 acquiring an additional 168,095 shares during the period. Institutional investors own 75.18% of the company's stock.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company's 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 directly owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

ABT stock opened at $132.30 on Friday. The company has a market capitalization of $230.26 billion, a P/E ratio of 16.58, a PEG ratio of 2.53 and a beta of 0.69. The company has a 50-day simple moving average of $132.54 and a 200 day simple moving average of $131.56. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. 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 (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The company's quarterly revenue was up 7.4% compared to the same quarter last year. 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 predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared 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. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Mizuho boosted their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Raymond James Financial reduced their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Finally, Royal Bank Of Canada boosted their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $146.17.

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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