Puzo Michael J Trims Stake in Abbott Laboratories $ABT

Key Points

• Puzo Michael J reduced its stake in Abbott Laboratories by 7.1%, decreasing its holdings to 91,948 shares, which now represents about 3.6% of its investment portfolio.
• Wall Street analysts have mixed ratings on Abbott Laboratories, with two analysts issuing a Strong Buy, fifteen a Buy, and a consensus price target of $146.24.
• Abbott Laboratories reported $1.26 earnings per share for the last quarter, aligning with analyst expectations, and announced a quarterly dividend of $0.59 to be paid on November 17th.

Puzo Michael J cut its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 7.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 91,948 shares of the healthcare product maker's stock after selling 6,996 shares during the quarter. Abbott Laboratories accounts for about 3.6% of Puzo Michael J's investment portfolio, making the stock its 8th largest holding. Puzo Michael J's holdings in Abbott Laboratories were worth $12,506,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new stake in Abbott Laboratories in the first quarter valued at $27,000. Abound Financial LLC bought a new stake in Abbott Laboratories in the first quarter valued at $28,000. Elequin Capital LP bought a new stake in Abbott Laboratories in the first quarter valued at $30,000. JCIC Asset Management Inc. bought a new stake in Abbott Laboratories in the first quarter valued at $32,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories during the first quarter valued at about $33,000. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore ISI lifted their price objective on shares of Abbott Laboratories from $140.00 to $144.00 and gave the company an "outperform" rating in a research note on Tuesday. BTIG Research cut their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Morgan Stanley lifted their price objective 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. Raymond James Financial cut their price objective 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. Finally, Wells Fargo & Company lowered their target price on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $146.24.

Insiders Place Their Bets

In related 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 value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Price Performance

NYSE:ABT opened at $133.05 on Wednesday. The business's 50-day moving average price is $132.19 and its 200 day moving average price is $131.45. The firm has a market cap of $231.58 billion, a P/E ratio of 16.67, a PEG ratio of 2.54 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 quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts' consensus estimates of $1.26. The firm had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.Abbott Laboratories's revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business 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, sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business 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 currently 29.57%.

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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