Martingale Asset Management L P Sells 30,804 Shares of Abbott Laboratories $ABT

Key Points

• Martingale Asset Management L P has reduced its holdings in Abbott Laboratories by 11.2%, now owning approximately 245,403 shares valued at $32.55 million.
• Abbott Laboratories recently reported earnings per share of $1.26, matching estimates, with revenue increasing 7.4% year-over-year.
• The company declared a quarterly dividend of $0.59, reflecting an annualized yield of 1.8% with a payout ratio of 29.57%.

Martingale Asset Management L P trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 245,403 shares of the healthcare product maker's stock after selling 30,804 shares during the quarter. Abbott Laboratories makes up approximately 0.8% of Martingale Asset Management L P's investment portfolio, making the stock its 24th biggest holding. Martingale Asset Management L P's holdings in Abbott Laboratories were worth $32,553,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of 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 worth $22,527,039,000 after acquiring an additional 1,177,739 shares during the period. Wellington Management Group LLP lifted its holdings in 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 purchasing an additional 3,371,113 shares in the last quarter. Northern Trust Corp boosted its holdings in Abbott Laboratories by 10.3% in the 4th quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker's stock worth $2,494,851,000 after buying an additional 2,060,650 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Abbott Laboratories by 29.2% during the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock worth $2,120,516,000 after purchasing an additional 3,616,471 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Abbott Laboratories by 12.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker's stock valued at $1,916,966,000 after buying an additional 1,639,954 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 0.3%

Shares of ABT stock traded up $0.4120 during mid-day trading on Friday, reaching $132.4120. The company's stock had a trading volume of 4,130,154 shares, compared to its average volume of 5,721,513. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The company's 50 day simple moving average is $131.08 and its 200-day simple moving average is $131.29. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $230.46 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 2.51 and a beta of 0.70.

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 analysts' consensus estimates 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%.Abbott Laboratories's quarterly revenue was up 7.4% on a year-over-year basis. 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, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were given a dividend of $0.59 per share. 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 29.57%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Raymond James Financial decreased their price target on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research note on Friday, July 18th. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their price objective for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Morgan Stanley increased their target price on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Evercore ISI boosted their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.47.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction that occurred 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 transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by company insiders.

About Abbott Laboratories

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.