Kimelman & Baird LLC Trims Stock Position in Abbott Laboratories $ABT

Key Points

• Kimelman & Baird LLC reduced its stake in Abbott Laboratories by 21.0% during the first quarter, now holding shares valued at approximately $3.14 million.
• Several hedge funds, including Aberdeen Group plc and Element Capital Management LLC, have made significant changes to their positions in Abbott, increasing their holdings in the first quarter.
• Abbott Laboratories reported a net revenue increase of 7.4% year-over-year, with earnings per share matching the consensus estimate of $1.26 for the latest quarter.

Kimelman & Baird LLC decreased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 21.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,639 shares of the healthcare product maker's stock after selling 6,300 shares during the quarter. Kimelman & Baird LLC's holdings in Abbott Laboratories were worth $3,136,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Three Seasons Wealth LLC bought a new position in shares of Abbott Laboratories in the 4th quarter valued at about $1,428,000. Kelly Financial Services LLC bought a new position in shares of Abbott Laboratories during the 1st quarter valued at approximately $216,000. Voleon Capital Management LP purchased a new stake in Abbott Laboratories during the 4th quarter valued at $273,000. Bank Pictet & Cie Europe AG boosted its stake in Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after buying an additional 2,774 shares during the period. Finally, Edge Financial Advisors LLC increased its position in Abbott Laboratories by 3.3% during the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after acquiring an additional 81 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the transaction, the chief financial officer owned 51,003 shares in the company, 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 legal filing with the SEC, which is accessible through this link. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Up 0.7%

ABT stock traded up $0.9240 during trading on Tuesday, reaching $131.1940. 4,662,108 shares of the company traded hands, compared to its average volume of 6,856,202. The company has a market capitalization of $228.34 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 2.50 and a beta of 0.70. 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 business has a 50 day simple moving average of $131.34 and a 200 day simple moving average of $131.24. Abbott Laboratories has a 12 month low of $110.33 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its 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. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $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, equities research analysts anticipate 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 issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend 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 29.57%.

Analysts Set New Price Targets

ABT has been the subject of several recent analyst reports. Mizuho boosted their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Royal Bank Of Canada upped their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their target price for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Wells Fargo & Company reduced 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. Finally, BTIG Research lowered their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Abbott Laboratories currently has an average rating of "Moderate Buy" and an average price target of $144.47.

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.