Ipswich Investment Management Co. Inc. Sells 2,090 Shares of Abbott Laboratories $ABT

Key Points

• Ipswich Investment Management Co. Inc. has reduced its stake in Abbott Laboratories by 13.0%, selling 2,090 shares and holding 13,956 shares worth $1,898,000 as of its latest filing.
• Abbott Laboratories reported $1.26 EPS for the last quarter, matching the consensus estimate, with revenues of $11.14 billion, up 7.4% compared to last year.
• The company declared a quarterly dividend of $0.59 to be paid on November 17th, representing an annualized yield of 1.8%.

Ipswich Investment Management Co. Inc. reduced its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 13.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,956 shares of the healthcare product maker's stock after selling 2,090 shares during the period. Ipswich Investment Management Co. Inc.'s holdings in Abbott Laboratories were worth $1,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ABT. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $28,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories in the 1st quarter worth approximately $30,000. JCIC Asset Management Inc. bought a new position in Abbott Laboratories in the 1st quarter valued at $32,000. Finally, Vision Financial Markets LLC acquired a new position in Abbott Laboratories in the first quarter worth $33,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Stock Up 0.2%

NYSE:ABT opened at $133.62 on Friday. The stock's fifty day moving average price is $131.14 and its two-hundred day moving average price is $131.14. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. 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 company has a market cap of $232.56 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 2.53 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 return on equity of 18.32% and a net margin of 32.43%.The business's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business 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, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

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

Analysts Set New Price Targets

ABT has been the topic of a number of recent analyst reports. BTIG Research reduced their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Wells Fargo & Company reduced their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Finally, Morgan Stanley upped their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Two investment 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 MarketBeat.com, the company 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 stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares of the company's stock, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.

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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