Mitchell Sinkler & Starr PA Sells 70,137 Shares of Abbott Laboratories $ABT

Key Points

• Mitchell Sinkler & Starr PA sold 70,137 shares of Abbott Laboratories, reducing its holdings by 75.8%, leaving it with around 22,347 shares valued at $3,039,000.
• Abbott Laboratories reported an EPS of $1.26 for the last quarter, matching analysts' expectations, and has set a fiscal year 2025 guidance of 5.100-5.200 EPS.
• The company announced a quarterly dividend of $0.59 per share, reflecting a 1.8% yield and a payout ratio of 29.57%.

Mitchell Sinkler & Starr PA reduced its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 75.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,347 shares of the healthcare product maker's stock after selling 70,137 shares during the quarter. Abbott Laboratories makes up about 1.5% of Mitchell Sinkler & Starr PA's holdings, making the stock its 19th largest position. Mitchell Sinkler & Starr PA's holdings in Abbott Laboratories were worth $3,039,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ABT. Consilium Wealth Advisory LLC increased its position in Abbott Laboratories by 2.1% in the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock worth $507,000 after buying an additional 78 shares during the last quarter. Mayflower Financial Advisors LLC increased its position in Abbott Laboratories by 0.5% in the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock worth $2,298,000 after buying an additional 78 shares during the last quarter. FF Advisors LLC increased its position in Abbott Laboratories by 4.3% in the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker's stock worth $259,000 after buying an additional 79 shares during the last quarter. Charles Schwab Trust Co increased its position in Abbott Laboratories by 0.6% in the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker's stock worth $1,907,000 after buying an additional 79 shares during the last quarter. Finally, Opes Wealth Management LLC increased its position in Abbott Laboratories by 2.9% in the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock worth $379,000 after buying an additional 80 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $132.30 on Friday. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The business has a 50-day simple moving average of $132.54 and a 200 day simple moving average of $131.60. 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 stock has a market cap of $230.26 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 2.51 and a beta of 0.69.

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 the consensus estimate 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 period in the previous year, the business earned $1.14 earnings per share. The firm's revenue was up 7.4% on a year-over-year basis. 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 forecast 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. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories's payout ratio is presently 29.57%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of 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 at this hyperlink. 0.46% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. BTIG Research decreased their target price on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Mizuho lifted their price target on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Evercore ISI lifted their price target on Abbott Laboratories from $140.00 to $144.00 and gave the company an "outperform" rating in a research report on Tuesday, October 7th. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Finally, William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.17.

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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