Greenleaf Trust Sells 11,344 Shares of Abbott Laboratories $ABT

Key Points

• Greenleaf Trust reduced its holdings in Abbott Laboratories by 11.4% to a total of 87,958 shares, valuing its stake at approximately $11.96 million by the end of the most recent quarter.
• Abbott Laboratories reported earnings of $1.26 per share, matching analysts' expectations, with revenue of $11.14 billion during the quarter, reflecting a 7.4% year-over-year increase.
• The company announced a quarterly dividend of $0.59, representing an annualized dividend yield of 1.8%, set to be paid on November 17th.

Greenleaf Trust lessened its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 11.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,958 shares of the healthcare product maker's stock after selling 11,344 shares during the period. Greenleaf Trust's holdings in Abbott Laboratories were worth $11,963,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Abbott Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker's stock valued at $22,527,039,000 after buying an additional 1,177,739 shares during the last quarter. Wellington Management Group LLP increased its holdings 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 valued at $3,948,117,000 after acquiring an additional 3,371,113 shares in the last quarter. Goldman Sachs Group Inc. raised its position 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 last quarter. Massachusetts Financial Services Co. MA boosted its stake in 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 purchasing an additional 1,639,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Abbott Laboratories by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker's stock worth $1,738,831,000 after purchasing an additional 168,095 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

NYSE ABT opened at $133.01 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The stock's fifty day moving average is $131.31 and its two-hundred day moving average is $131.20. The firm has a market capitalization of $231.49 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 2.53 and a beta of 0.69. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its 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 business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company earned $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, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

Analysts Set New Price Targets

ABT has been the topic of several research reports. Morgan Stanley upped their target price 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. Leerink Partners began coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 price objective for the company. Royal Bank Of Canada upped their target price on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. BTIG Research cut their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Finally, Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and an average target price of $145.22.

Insider Buying and Selling 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 completion of the sale, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.

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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