ORG Wealth Partners LLC Sells 4,385 Shares of Abbott Laboratories $ABT

Key Points

• ORG Wealth Partners LLC has reduced its holdings in Abbott Laboratories by 9.5%, selling 4,385 shares and now owning 41,770 shares valued at $5,692,000.
• Thirteen analysts have rated Abbott Laboratories with a consensus of "Moderate Buy"* and an average target price increase to $145.22, indicating a positive outlook for the stock.
• The CFO of Abbott Laboratories sold 5,550 shares worth approximately $746,752, which represents a 9.81% decrease in their ownership stake, as disclosed in recent SEC filings.

ORG Wealth Partners LLC cut its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 9.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,770 shares of the healthcare product maker's stock after selling 4,385 shares during the quarter. Abbott Laboratories comprises approximately 1.6% of ORG Wealth Partners LLC's holdings, making the stock its 6th largest position. ORG Wealth Partners LLC's holdings in Abbott Laboratories were worth $5,692,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Kelly Financial Services LLC bought a new position in Abbott Laboratories during the first quarter valued at about $216,000. Edge Financial Advisors LLC raised its holdings in shares of Abbott Laboratories by 3.3% in the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock worth $336,000 after buying an additional 81 shares in the last quarter. Avanza Fonder AB raised its holdings in shares of Abbott Laboratories by 0.4% in the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker's stock worth $22,904,000 after buying an additional 655 shares in the last quarter. SageView Advisory Group LLC raised its holdings in shares of Abbott Laboratories by 18.6% in the 1st quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker's stock worth $2,427,000 after buying an additional 2,873 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of Abbott Laboratories by 49.8% in the 1st quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker's stock worth $199,939,000 after buying an additional 501,200 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ABT. Royal Bank Of Canada boosted their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Mizuho boosted their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Evercore ISI boosted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and raised their price target for the company from $143.00 to $145.00 in a report on Friday, July 18th. Finally, Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $145.22.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $133.62 on Friday. The firm has a fifty day moving average of $131.14 and a two-hundred day moving average of $131.14. The stock has a market capitalization of $232.56 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 2.53 and a beta of 0.69. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. 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 (NYSE:ABT - Get Free Report) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. The company had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous 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. As a group, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be 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 of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

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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