Panagora Asset Management Inc. Sells 67,401 Shares of Abbott Laboratories $ABT

Key Points

• Panagora Asset Management Inc. reduced its stake in Abbott Laboratories by 20.1%, selling 67,401 shares and holding a total of 267,676 shares valued at approximately $35.5 million.
• Abbott Laboratories reported earnings of $1.26 per share for the last quarter, in line with analysts' expectations, and experienced a 7.4% year-over-year revenue increase to $11.14 billion.
• The company recently announced a quarterly dividend of $0.59 per share, equating to an annualized yield of 1.8%, with a payout ratio of 29.57%.

Panagora Asset Management Inc. lessened its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 20.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 267,676 shares of the healthcare product maker's stock after selling 67,401 shares during the quarter. Panagora Asset Management Inc.'s holdings in Abbott Laboratories were worth $35,507,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Activest Wealth Management increased its holdings in Abbott Laboratories by 211.9% in the 1st quarter. Activest Wealth Management now owns 524 shares of the healthcare product maker's stock valued at $70,000 after buying an additional 356 shares during the period. Vident Advisory LLC boosted its stake in shares of Abbott Laboratories by 57.0% in the 1st quarter. Vident Advisory LLC now owns 54,797 shares of the healthcare product maker's stock valued at $7,269,000 after purchasing an additional 19,898 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Abbott Laboratories by 6.3% in the 1st quarter. Evergreen Capital Management LLC now owns 17,983 shares of the healthcare product maker's stock valued at $2,385,000 after purchasing an additional 1,058 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at $143,000. Finally, Tema Etfs LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at $2,314,000. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Up 0.9%

Shares of NYSE ABT opened at $132.59 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The company has a market cap of $230.76 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 2.52 and a beta of 0.70. The firm's 50-day simple moving average is $130.99 and its 200 day simple moving average is $131.35.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released 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. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the company posted $1.14 EPS. The company's revenue was up 7.4% compared to the same quarter last year. 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 expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories's dividend 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 the company's stock in a transaction dated 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 in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

ABT has been the topic of several recent analyst reports. Raymond James Financial reduced their target price on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research note on Friday, July 18th. Morgan Stanley boosted their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Evercore ISI boosted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Finally, Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and upped their price target for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

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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