CX Institutional Has $3.40 Million Stock Position in Abbott Laboratories $ABT

Key Points

• CX Institutional reduced its position in Abbott Laboratories by 61.5%, holding 24,965 shares valued at $3.40 million after selling 39,807 shares in the second quarter.
• Institutional investors now own 75.18% of Abbott Laboratories' stock, with notable transactions in the first quarter including Nuveen LLC's acquisition of a stake valued at $1.66 billion.
• Abbott Laboratories announced a quarterly dividend of $0.59 per share to be paid on November 17th, reflecting an annualized yield of 1.8%.

CX Institutional cut its position in Abbott Laboratories (NYSE:ABT - Free Report) by 61.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,965 shares of the healthcare product maker's stock after selling 39,807 shares during the period. CX Institutional's holdings in Abbott Laboratories were worth $3,396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at $1,658,180,000. GAMMA Investing LLC lifted its stake in shares of Abbott Laboratories by 15,420.4% in the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock valued at $676,866,000 after buying an additional 5,069,771 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Abbott Laboratories by 29.2% during the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock valued at $2,120,516,000 after buying an additional 3,616,471 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Abbott Laboratories by 12.8% during 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of 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 during the last quarter. Institutional investors own 75.18% of the company's stock.

Insiders Place Their Bets

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Down 0.4%

ABT opened at $133.38 on Friday. The company has a market cap of $232.13 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. Abbott Laboratories has a 12 month low of $110.86 and a 12 month 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. The company has a 50 day moving average of $130.94 and a 200 day moving average of $131.14.

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, hitting analysts' consensus estimates of $1.26. The business had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. Abbott Laboratories's revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 EPS. 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, sell-side analysts expect 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. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ABT. Mizuho raised their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. BTIG Research dropped their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and raised their price target for the company from $143.00 to $145.00 in a research report on Friday, July 18th. Finally, Raymond James Financial reduced 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. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $145.22.

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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