Abbott Laboratories $ABT Shares Sold by AdvisorNet Financial Inc

Key Points

• AdvisorNet Financial Inc reduced its stake in Abbott Laboratories by 5.6%, selling 2,550 shares, and now holds 42,993 shares valued at approximately $5.85 million.
• Institutions maintain significant ownership of Abbott Laboratories, with 75.18% of the stock held by institutional investors, including Vanguard Group and Goldman Sachs, who increased their shares recently.
• Abbott Laboratories reported a quarterly EPS of $1.26 and a revenue of $11.14 billion, exceeding analysts' estimates, marking a 7.4% increase in revenue year-over-year.

AdvisorNet Financial Inc reduced its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 5.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,993 shares of the healthcare product maker's stock after selling 2,550 shares during the quarter. AdvisorNet Financial Inc's holdings in Abbott Laboratories were worth $5,848,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

ABT has been the topic of several analyst reports. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Wells Fargo & Company lowered their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Leerink Partners began coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price on the stock. Evercore ISI boosted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their price target for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and a consensus target price of $145.22.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer owned 51,003 shares of the company's stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by insiders.

Abbott Laboratories Stock Up 0.6%

Shares of ABT stock traded up $0.78 during mid-day trading on Monday, hitting $136.82. 4,837,007 shares of the stock traded hands, compared to its average volume of 5,199,671. The stock has a market cap of $238.13 billion, a P/E ratio of 17.15, a P/E/G ratio of 2.58 and a beta of 0.69. The stock's fifty day moving average is $130.56 and its two-hundred day moving average is $131.11. Abbott Laboratories has a 52-week low of $110.86 and a 52-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 posted its quarterly earnings data 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 firm had revenue of $11.14 billion for 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 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 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 issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio is 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.