Abbott Laboratories $ABT Stake Trimmed by Coerente Capital Management

Key Points

• Coerente Capital Management reduced its stake in Abbott Laboratories by 0.9%, retaining 5.5% of its holdings in the company, which is now valued at approximately $29.9 million.
• A significant number of institutional investors, including Horizon Bancorp and Ramirez Asset Management, increased their stakes in Abbott Laboratories during the same quarter, showcasing growing interest in the stock.
• Abbott Laboratories reported steady earnings of $1.26 per share, maintaining its position against analyst expectations, with revenue for the quarter increasing by 7.4% year-over-year.

Coerente Capital Management reduced its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,884 shares of the healthcare product maker's stock after selling 1,893 shares during the period. Abbott Laboratories accounts for 5.5% of Coerente Capital Management's holdings, making the stock its 4th biggest holding. Coerente Capital Management's holdings in Abbott Laboratories were worth $29,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Horizon Bancorp Inc. IN boosted its stake in shares of Abbott Laboratories by 58.1% during the second quarter. Horizon Bancorp Inc. IN now owns 5,739 shares of the healthcare product maker's stock valued at $781,000 after purchasing an additional 2,110 shares in the last quarter. Ramirez Asset Management Inc. raised its holdings in shares of Abbott Laboratories by 102.7% in the second quarter. Ramirez Asset Management Inc. now owns 21,049 shares of the healthcare product maker's stock worth $2,863,000 after buying an additional 10,667 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Abbott Laboratories by 7.1% in the second quarter. IFP Advisors Inc now owns 18,721 shares of the healthcare product maker's stock worth $2,571,000 after buying an additional 1,233 shares during the last quarter. Baldwin Wealth Partners LLC MA raised its holdings in shares of Abbott Laboratories by 5.4% in the second quarter. Baldwin Wealth Partners LLC MA now owns 7,211 shares of the healthcare product maker's stock worth $981,000 after buying an additional 372 shares during the last quarter. Finally, Callan Family Office LLC raised its holdings in shares of Abbott Laboratories by 67.8% in the second quarter. Callan Family Office LLC now owns 98,163 shares of the healthcare product maker's stock worth $13,351,000 after buying an additional 39,649 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on ABT shares. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 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 target price 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. Weiss Ratings reissued a "buy (b)" rating on shares of Abbott Laboratories in a report on Wednesday. Finally, Leerink Partners started coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They set a "market perform" rating and a $143.00 target price for the company. Two equities research 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 company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $146.24.

Insiders Place Their Bets

In related 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 directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was 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 the SEC website. Insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Down 0.8%

Shares of NYSE ABT opened at $133.24 on Friday. The company's 50-day simple moving average is $132.44 and its 200-day simple moving average is $131.52. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The firm has a market cap of $231.90 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 2.55 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 (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the business earned $1.14 earnings per share. The company'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 predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. 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 payout ratio is presently 29.57%.

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.

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