Comerica Bank Sells 17,647 Shares of Abbott Laboratories $ABT

Key Points

• Comerica Bank has decreased its position in Abbott Laboratories by 2.2%, now holding 784,549 shares valued at approximately $104.07 million.
• Abbott Laboratories reported $1.26 earnings per share in its latest quarterly earnings, meeting analysts' expectations, and has set its FY 2025 guidance at 5.100-5.200 EPS.
• The company announced a quarterly dividend of $0.59 per share, with an annual yield of 1.8%, reflecting a dividend payout ratio of 29.57%.

Comerica Bank trimmed its position in Abbott Laboratories (NYSE:ABT - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 784,549 shares of the healthcare product maker's stock after selling 17,647 shares during the period. Comerica Bank's holdings in Abbott Laboratories were worth $104,070,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted 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 worth $22,527,039,000 after acquiring an additional 1,177,739 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Abbott Laboratories by 12.8% during 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 during the last quarter. Northern Trust Corp lifted its holdings in shares of Abbott Laboratories by 10.3% during the 4th quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker's stock worth $2,494,851,000 after acquiring an additional 2,060,650 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Abbott Laboratories by 29.2% during 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 during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Abbott Laboratories by 12.8% during 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 during the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories 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 completion of the transaction, the chief financial officer directly 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 filing with the SEC, which is available at this link. 0.46% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Morgan Stanley boosted 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. Mizuho boosted 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. Wells Fargo & Company decreased their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Finally, Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus price target of $144.47.

Abbott Laboratories Price Performance

ABT traded up $0.01 during trading on Thursday, hitting $131.47. 4,674,476 shares of the company traded hands, compared to its average volume of 6,768,362. The company has a market cap of $228.81 billion, a PE ratio of 16.47, a P/E/G ratio of 2.50 and a beta of 0.70. The stock's 50-day simple moving average is $131.01 and its two-hundred day simple moving average is $131.33. Abbott Laboratories has a 1 year low of $110.86 and a 1 year 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 issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS 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 during the quarter, compared to analysts' expectations of $11.01 billion. During the same period last year, the company posted $1.14 EPS. The business's 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. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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

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.