Mutual Advisors LLC Decreases Position in Abbott Laboratories $ABT

Mutual Advisors LLC trimmed its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 23.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,669 shares of the healthcare product maker's stock after selling 5,061 shares during the quarter. Mutual Advisors LLC's holdings in Abbott Laboratories were worth $2,109,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings 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 buying an additional 1,177,739 shares during the period. Wellington Management Group LLP raised its holdings in shares of Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock worth $3,948,117,000 after buying an additional 3,371,113 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Abbott Laboratories by 29.2% in 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 buying an additional 3,616,471 shares during the period. Massachusetts Financial Services Co. MA raised its holdings 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 worth $1,916,966,000 after buying an additional 1,639,954 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Abbott Laboratories by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker's stock worth $1,738,831,000 after buying an additional 168,095 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 1.6%

Shares of NYSE ABT opened at $127.38 on Friday. 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 stock has a market capitalization of $221.70 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 2.46 and a beta of 0.69. The stock's fifty day simple moving average is $132.49 and its two-hundred day simple moving average is $131.56. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. The business had revenue of $11.37 billion for the quarter, compared to analysts' expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Analyst Ratings Changes

Several research firms have commented on ABT. Raymond James Financial raised their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the stock an "outperform" rating in a report on Thursday. Mizuho raised their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday. Jefferies Financial Group raised their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the stock a "buy" rating in a report on Thursday. BTIG Research restated a "buy" rating and set a $145.00 price objective on shares of Abbott Laboratories in a report on Wednesday. Finally, Evercore ISI reduced their price objective on Abbott Laboratories from $144.00 to $142.00 and set an "outperform" rating on the stock in a report on Wednesday. Two equities research 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.com, the company currently has an average rating of "Moderate Buy" and an average price target of $147.44.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction 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 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 through this hyperlink. 0.46% of the stock is owned by 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.

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