Glenview Trust co Trims Position in Abbott Laboratories $ABT

Key Points

• Glenview Trust Co has reduced its holdings in Abbott Laboratories by 3.1% in Q1, now owning 90,421 shares valued at $11,994,000.
• Abbott Laboratories reported $11.14 billion in revenue for the quarter, exceeding estimates, with earnings per share meeting expectations at $1.26.
• The company's quarterly dividend was recently paid at a rate of $0.59 per share, representing an annual yield of 1.8%.

Glenview Trust co trimmed its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 3.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 90,421 shares of the healthcare product maker's stock after selling 2,895 shares during the period. Glenview Trust co's holdings in Abbott Laboratories were worth $11,994,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Aspen Investment Management Inc raised its holdings in shares of Abbott Laboratories by 2.9% in the first quarter. Aspen Investment Management Inc now owns 7,848 shares of the healthcare product maker's stock valued at $1,041,000 after buying an additional 222 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co increased its stake in shares of Abbott Laboratories by 9.5% during the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 289,500 shares of the healthcare product maker's stock worth $38,402,000 after acquiring an additional 25,000 shares during the period. Security National Bank of Sioux City Iowa IA increased its stake in shares of Abbott Laboratories by 2.6% during the first quarter. Security National Bank of Sioux City Iowa IA now owns 17,180 shares of the healthcare product maker's stock worth $2,279,000 after acquiring an additional 443 shares during the period. SageView Advisory Group LLC increased its stake in shares of Abbott Laboratories by 18.6% during the first quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker's stock worth $2,427,000 after acquiring an additional 2,873 shares during the period. Finally, Advisory Alpha LLC increased its stake in shares of Abbott Laboratories by 8.3% during the first quarter. Advisory Alpha LLC now owns 6,974 shares of the healthcare product maker's stock worth $925,000 after acquiring an additional 534 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 0.1%

Shares of NYSE ABT opened at $132.04 on Wednesday. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The company has a market capitalization of $229.81 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 2.51 and a beta of 0.69. 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's 50-day moving average is $130.52 and its two-hundred day moving average is $131.36.

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, meeting 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 firm earned $1.14 earnings per share. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. 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 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors 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 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ABT shares. Evercore ISI boosted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Wells Fargo & Company dropped their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Royal Bank Of Canada upped their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of "Moderate Buy" and an average price target of $144.47.

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company'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 transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.46% of the company's stock.

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.

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