DnB Asset Management AS Trims Position in Abbott Laboratories $ABT

Key Points

• DnB Asset Management AS has reduced its stake in Abbott Laboratories by 3.2%, selling 18,174 shares and ending with 555,396 shares valued at $73.67 million.
• Several hedge funds have adjusted their positions in Abbott Laboratories, including Bosun Asset Management, which increased its stake by 9.1%, and Banque Transatlantique, which grew its holdings by 364.4%.
• Abbott Laboratories announced a quarterly dividend of $0.59 per share, with a current annualized yield of 1.8% and a payout ratio of 29.57%.

DnB Asset Management AS cut its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 555,396 shares of the healthcare product maker's stock after selling 18,174 shares during the quarter. DnB Asset Management AS's holdings in Abbott Laboratories were worth $73,673,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hughes Financial Services LLC purchased a new stake in Abbott Laboratories in the first quarter worth about $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories during the first quarter valued at about $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories during the first quarter valued at about $30,000. JCIC Asset Management Inc. purchased a new stake in shares of Abbott Laboratories during the first quarter valued at about $32,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Abbott Laboratories during the first quarter valued at about $33,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT traded down $0.34 during midday trading on Tuesday, hitting $131.86. The company's stock had a trading volume of 2,322,219 shares, compared to its average volume of 6,670,584. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The firm's 50 day moving average is $130.60 and its 200-day moving average is $131.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The firm has a market cap of $229.49 billion, a P/E ratio of 16.54, a P/E/G ratio of 2.52 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company 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 earned $1.14 EPS. 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. Equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were paid a dividend of $0.59 per share. 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 (DPR) is presently 29.57%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BTIG Research decreased their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Evercore ISI increased their price target 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. 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 report on Tuesday, July 15th. Raymond James Financial lowered their target price on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, July 18th. Finally, Royal Bank Of Canada lifted their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $144.47.

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.

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.