Prime Capital Investment Advisors LLC Trims Stake in Abbott Laboratories $ABT

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in Abbott Laboratories by 29.4% in the second quarter, holding 34,349 shares valued at approximately $4.67 million.
• Abbott Laboratories reported a quarterly earnings per share (EPS) of $1.26, meeting analyst expectations, and highlighted a 7.4% increase in revenue year-over-year, totaling $11.14 billion.
• The firm's latest quarterly dividend of $0.59 will be paid on November 17th, representing an annualized yield of 1.8%.

Prime Capital Investment Advisors LLC lowered its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 29.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,349 shares of the healthcare product maker's stock after selling 14,278 shares during the period. Prime Capital Investment Advisors LLC's holdings in Abbott Laboratories were worth $4,672,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Consilium Wealth Advisory LLC grew 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 acquiring an additional 78 shares in the last quarter. Mayflower Financial Advisors LLC lifted its stake in Abbott Laboratories by 0.5% during the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock worth $2,298,000 after purchasing an additional 78 shares during the last quarter. FF Advisors LLC boosted its holdings in shares of Abbott Laboratories by 4.3% in the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker's stock worth $259,000 after purchasing an additional 79 shares in the last quarter. Charles Schwab Trust Co raised its holdings in shares of Abbott Laboratories by 0.6% during the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker's stock valued at $1,907,000 after buying an additional 79 shares in the last quarter. Finally, Opes Wealth Management LLC lifted its position in Abbott Laboratories by 2.9% in the 1st 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. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business's 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 approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $133.63 on Tuesday. 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 company has a 50-day moving average price of $132.08 and a 200-day moving average price of $131.44. The company has a market cap of $232.58 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 2.55 and a beta of 0.69. 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 quarterly 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 return on equity of 18.32% and a net margin of 32.43%.The company had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the previous year, the business earned $1.14 EPS. Abbott Laboratories'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. As a group, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid 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 yield of 1.8%. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Wall Street Analyst Weigh In

ABT has been the topic of a number of recent research reports. The Goldman Sachs Group increased their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a "buy" rating in a research report on Wednesday, October 1st. Mizuho increased their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Wells Fargo & Company lowered their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Royal Bank Of Canada raised their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, William Blair raised Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Two 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $145.39.

Abbott Laboratories 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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