Logan Capital Management Inc. Sells 2,523 Shares of Abbott Laboratories $ABT

Key Points

• Logan Capital Management Inc. sold 2,523 shares of Abbott Laboratories, reducing its holdings by 5%, leaving them with 47,897 shares valued at $6.35 million.
• Several institutional investors, including MBB Public Markets I LLC and Ascent Group LLC, have adjusted their positions in Abbott Laboratories, indicating continued interest in the healthcare product manufacturer.
• Abbott Laboratories reported a quarterly EPS of $1.26, meeting analysts' expectations, with revenues of $11.14 billion, surpassing the consensus estimate.

Logan Capital Management Inc. decreased its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,897 shares of the healthcare product maker's stock after selling 2,523 shares during the period. Logan Capital Management Inc.'s holdings in Abbott Laboratories were worth $6,354,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. MBB Public Markets I LLC bought a new stake in shares of Abbott Laboratories in the first quarter worth $332,000. Ascent Group LLC grew its holdings in shares of Abbott Laboratories by 71.6% in the first quarter. Ascent Group LLC now owns 32,279 shares of the healthcare product maker's stock worth $4,282,000 after acquiring an additional 13,467 shares during the period. Meiji Yasuda Life Insurance Co grew its position in Abbott Laboratories by 19.5% during the first quarter. Meiji Yasuda Life Insurance Co now owns 25,018 shares of the healthcare product maker's stock valued at $3,319,000 after buying an additional 4,091 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its position in Abbott Laboratories by 1.0% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 183,715 shares of the healthcare product maker's stock valued at $24,370,000 after buying an additional 1,800 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Abbott Laboratories during the first quarter valued at approximately $18,061,000. Institutional investors own 75.18% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ABT. Leerink Partners began coverage on Abbott Laboratories in a report on Monday, June 16th. They set a "market perform" rating and a $143.00 price target for the company. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Royal Bank Of Canada boosted their price target on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Raymond James Financial lowered their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research report on Friday, July 18th. Finally, Wells Fargo & Company lowered their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock 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 issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $144.47.

Insider Transactions 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 stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the sale, the chief financial officer directly owned 51,003 shares of the company's stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

NYSE:ABT opened at $132.27 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $230.21 billion, a P/E ratio of 16.58, a P/E/G ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The business's 50-day moving average is $130.60 and its 200 day moving average is $131.36.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts' consensus estimates of $1.26. The company 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 firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 earnings per share. 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 forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Tuesday, July 15th. Abbott Laboratories's payout ratio is currently 29.57%.

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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