KPP Advisory Services LLC Sells 114,058 Shares of Abbott Laboratories $ABT

Key Points

• KPP Advisory Services LLC reduced its holdings in Abbott Laboratories by 90.9%, selling 114,058 shares, leaving them with 11,404 shares worth approximately $1.55 million.
• Abbott Laboratories announced a quarterly dividend of $0.59 per share, with a payout ratio of 29.57%, to be paid on November 17.
• Analyst ratings for Abbott Laboratories show a consensus of "Moderate Buy" and a target price of $145.39, with increases from multiple analysts in recent months.

KPP Advisory Services LLC lessened its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 90.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,404 shares of the healthcare product maker's stock after selling 114,058 shares during the quarter. KPP Advisory Services LLC's holdings in Abbott Laboratories were worth $1,551,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Capital Advisors Inc. OK grew its position in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Capital Advisors Inc. OK now owns 32,722 shares of the healthcare product maker's stock worth $4,451,000 after purchasing an additional 117 shares in the last quarter. Iowa State Bank increased its stake in Abbott Laboratories by 0.8% during the 2nd quarter. Iowa State Bank now owns 14,657 shares of the healthcare product maker's stock worth $1,993,000 after acquiring an additional 110 shares during the period. Relyea Zuckerberg Hanson LLC raised its holdings in Abbott Laboratories by 1.5% in the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 24,076 shares of the healthcare product maker's stock valued at $3,275,000 after acquiring an additional 359 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Abbott Laboratories by 3.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 33,558 shares of the healthcare product maker's stock valued at $4,564,000 after acquiring an additional 1,260 shares during the period. Finally, Joule Financial LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth $675,000. 75.18% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the sale, the chief financial officer owned 51,003 shares of the company's stock, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.46% of the company's stock.

Analyst Ratings Changes

ABT has been the subject of several recent analyst reports. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Morgan Stanley upped their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Raymond James Financial decreased their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research note on Friday, July 18th. Royal Bank Of Canada upped their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, The Goldman Sachs Group boosted their price target on Abbott Laboratories from $153.00 to $157.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $145.39.

Abbott Laboratories Stock Up 1.1%

Shares of ABT opened at $134.49 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The stock has a market capitalization of $234.07 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.55 and a beta of 0.69. The stock has a fifty day moving average of $131.94 and a 200-day moving average of $131.39.

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. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The business'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. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm 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 dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's payout ratio is presently 29.57%.

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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