Abbott Laboratories $ABT Stake Lowered by Riverview Trust Co

Key Points

• Riverview Trust Co significantly reduced its stake in Abbott Laboratories by 64.3% in Q2, owning only 3,251 shares post-sale.
• Abbott's recent quarterly earnings reported $1.26 earnings per share, matching analysts' expectations, with a revenue increase of 7.4% year-over-year.
• The company declared a quarterly dividend of $0.59 per share, set to be paid on November 17th, representing an annualized yield of 1.8%.

Riverview Trust Co cut its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 64.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,251 shares of the healthcare product maker's stock after selling 5,863 shares during the quarter. Abbott Laboratories makes up 0.6% of Riverview Trust Co's portfolio, making the stock its 29th largest holding. Riverview Trust Co's holdings in Abbott Laboratories were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cliftonlarsonallen Wealth Advisors LLC boosted its position in shares of Abbott Laboratories by 5.6% during the second quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 11,176 shares of the healthcare product maker's stock worth $1,520,000 after buying an additional 592 shares during the period. EWA LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter valued at $229,000. Northstar Group Inc. lifted its position in shares of Abbott Laboratories by 121.8% during the 2nd quarter. Northstar Group Inc. now owns 15,030 shares of the healthcare product maker's stock valued at $2,044,000 after acquiring an additional 8,255 shares during the last quarter. Warren Street Wealth Advisors LLC lifted its position in shares of Abbott Laboratories by 12.1% during the 2nd quarter. Warren Street Wealth Advisors LLC now owns 2,374 shares of the healthcare product maker's stock valued at $323,000 after acquiring an additional 256 shares during the last quarter. Finally, Pure Financial Advisors LLC lifted its position in shares of Abbott Laboratories by 162.4% during the 2nd quarter. Pure Financial Advisors LLC now owns 23,306 shares of the healthcare product maker's stock valued at $3,170,000 after acquiring an additional 14,423 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Price Performance

ABT opened at $133.53 on Thursday. Abbott Laboratories has a 12-month low of $110.86 and a 12-month 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. The firm has a market capitalization of $232.39 billion, a P/E ratio of 16.73, a PEG ratio of 2.54 and a beta of 0.69. The stock has a fifty day moving average of $131.63 and a 200-day moving average of $131.24.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the business posted $1.14 earnings per share. Abbott Laboratories's revenue for the quarter 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. Equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Wells Fargo & Company cut their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Raymond James Financial cut their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research report on Friday, July 18th. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Finally, BTIG Research reduced their target price on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $145.39.

About Abbott Laboratories

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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