Dorsey & Whitney Trust CO LLC Sells 5,022 Shares of Abbott Laboratories $ABT

Key Points

• Dorsey & Whitney Trust CO LLC reduced its stake in Abbott Laboratories by 3.9%, selling 5,022 shares, resulting in a total of 123,916 shares owned, valued at approximately $16.44 million.
• Abbott Laboratories reported earnings of $1.26 per share for the last quarter, meeting analysts' expectations with revenue of $11.14 billion, an increase of 7.4% year-over-year.
• The company recently announced a quarterly dividend of $0.59 per share, representing an annualized yield of 1.8%.

Dorsey & Whitney Trust CO LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 123,916 shares of the healthcare product maker's stock after selling 5,022 shares during the quarter. Abbott Laboratories makes up approximately 0.9% of Dorsey & Whitney Trust CO LLC's portfolio, making the stock its 23rd largest holding. Dorsey & Whitney Trust CO LLC's holdings in Abbott Laboratories were worth $16,437,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new position in Abbott Laboratories during the first quarter valued at about $27,000. Abound Financial LLC bought a new position in Abbott Laboratories during the first quarter valued at about $28,000. Elequin Capital LP bought a new position in Abbott Laboratories during the first quarter valued at about $30,000. JCIC Asset Management Inc. purchased a new stake in Abbott Laboratories during the first quarter valued at about $32,000. Finally, Vision Financial Markets LLC purchased a new stake in Abbott Laboratories during the first quarter valued at about $33,000. Institutional investors own 75.18% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Wells Fargo & Company dropped their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock 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. 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 report on Tuesday, July 8th. 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 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

Abbott Laboratories Trading Up 0.7%

Shares of Abbott Laboratories stock opened at $131.1940 on Wednesday. Abbott Laboratories has a 12-month low of $110.33 and a 12-month high of $141.23. The company has a market cap of $228.34 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.47 and a beta of 0.70. 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's 50-day moving average price is $131.28 and its 200-day moving average price is $131.24.

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

Abbott Laboratories Announces Dividend

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

Insiders Place Their Bets

In related 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 value of $746,752.50. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.46% of the stock is owned by corporate 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.

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.