Exencial Wealth Advisors LLC Reduces Stock Holdings in Abbott Laboratories $ABT

Key Points

• Exencial Wealth Advisors LLC has reduced its stock holdings in Abbott Laboratories by 4.1%, now owning 148,551 shares valued at approximately $20.2 million.
• Multiple institutional investors have increased their positions in Abbott, including Goldman Sachs, which raised its stake by 29.2%, and TD Asset Management, which lifted its stake by 98.6% in the second quarter.
• Abbott Laboratories reported an EPS of $1.30 for the quarter, consistent with analysts' expectations, alongside revenue of $11.37 billion and a dividend announcement of $0.59 per share to be paid in November.

Exencial Wealth Advisors LLC decreased its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,551 shares of the healthcare product maker's stock after selling 6,289 shares during the quarter. Exencial Wealth Advisors LLC's holdings in Abbott Laboratories were worth $20,204,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABT. Nuveen LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at approximately $1,658,180,000. Goldman Sachs Group Inc. lifted its stake in shares of Abbott Laboratories by 29.2% in the 1st 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 purchasing an additional 3,616,471 shares during the period. Wellington Management Group LLP lifted its stake in shares of Abbott Laboratories by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock valued at $3,948,117,000 after purchasing an additional 3,371,113 shares during the period. TD Asset Management Inc lifted its stake in shares of Abbott Laboratories by 98.6% in the 2nd quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker's stock valued at $471,669,000 after purchasing an additional 1,721,523 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake 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 valued at $1,916,966,000 after purchasing an additional 1,639,954 shares during the period. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction 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 transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ABT. Royal Bank Of Canada restated an "outperform" rating and issued a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. Mizuho raised their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday, October 14th. Daiwa Capital Markets raised their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the company an "outperform" rating in a research report on Tuesday. Morgan Stanley raised their price objective on 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, William Blair raised Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $147.00.

Abbott Laboratories Stock Performance

Shares of ABT opened at $127.68 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The firm has a market capitalization of $222.21 billion, a P/E ratio of 16.00, a PEG ratio of 2.46 and a beta of 0.69. The business has a fifty day moving average of $132.28 and a 200 day moving average of $131.54.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The company had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. Abbott Laboratories's revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories's payout ratio is 29.57%.

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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