AlTi Global Inc. Cuts Stock Holdings in Abbott Laboratories $ABT

Key Points

• AlTi Global Inc. reduced its holdings in Abbott Laboratories by 27.7%, now owning 20,936 shares worth approximately $2.78 million.
• Institutional investors are actively adjusting their positions, with Vanguard Group increasing their holdings by 0.7% and Goldman Sachs boosting their stake by 29.2% in the same quarter.
• Abbott Laboratories reported a quarterly earnings per share (EPS) of $1.26, matching analyst expectations and marking a 7.4% year-over-year revenue increase to $11.14 billion.

AlTi Global Inc. trimmed its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,936 shares of the healthcare product maker's stock after selling 8,033 shares during the quarter. AlTi Global Inc.'s holdings in Abbott Laboratories were worth $2,777,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in 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 Abbott Laboratories by 12.8% in the 1st 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 in the last quarter. Goldman Sachs Group Inc. increased its holdings in Abbott Laboratories by 29.2% in the 1st 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 in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Abbott Laboratories by 12.8% in the 1st 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 acquiring an additional 1,639,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Abbott Laboratories by 1.3% in the 1st 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 acquiring an additional 168,095 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $132.01 on Thursday. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The firm has a market capitalization of $229.75 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 2.52 and a beta of 0.69. The company has a fifty day simple moving average of $130.73 and a 200-day simple moving average of $131.36. 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 quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Abbott Laboratories's quarterly revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, July 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 currently 29.57%.

Insider Activity

In related 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent analyst reports. BTIG Research cut their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Raymond James Financial cut 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. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Wells Fargo & Company cut their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Finally, Leerink Partners assumed 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 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

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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