BI Asset Management Fondsmaeglerselskab A S Sells 31,731 Shares of Abbott Laboratories $ABT

Key Points

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BI Asset Management Fondsmaeglerselskab A S decreased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 9.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289,092 shares of the healthcare product maker's stock after selling 31,731 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Abbott Laboratories were worth $38,348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABT. Hughes Financial Services LLC acquired a new position in Abbott Laboratories during the 1st quarter worth $27,000. Abound Financial LLC acquired a new position in Abbott Laboratories during the 1st quarter worth $28,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories during the first quarter valued at about $30,000. Wormser Freres Gestion acquired a new position in shares of Abbott Laboratories during the fourth quarter valued at about $32,000. Finally, JCIC Asset Management Inc. acquired a new position in shares of Abbott Laboratories during the first quarter valued at about $32,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Price Performance

NYSE ABT traded up $0.4120 on Friday, reaching $132.4120. The company's stock had a trading volume of 4,130,154 shares, compared to its average volume of 5,721,513. The firm has a market cap of $230.46 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 2.50 and a beta of 0.70. The business has a 50-day moving average price of $131.08 and a 200 day moving average price of $131.29. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts' consensus estimates of $1.26. The business had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 earnings per share. 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 expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Raymond James Financial cut their price objective on shares of 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 Partners assumed coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective for the company. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Finally, Mizuho upped their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $144.47.

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 transaction of $746,752.50. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.46% of the company's stock.

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.