RFG Advisory LLC Sells 2,646 Shares of Abbott Laboratories $ABT

Key Points

• RFG Advisory LLC has reduced its stake in Abbott Laboratories (NYSE: ABT) by 12.9%, selling 2,646 shares, leaving them with 17,848 shares valued at approximately $2.43 million.
• Abbott Laboratories reported earnings of $1.30 per share for the last quarter, meeting analysts' expectations, with a revenue of $11.37 billion, showing a 6.9% increase year-over-year.
• The company recently announced a quarterly dividend of $0.59 per share, with an annualized yield of 1.8% and a payout ratio of 29.57%.

RFG Advisory LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 12.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 17,848 shares of the healthcare product maker's stock after selling 2,646 shares during the period. RFG Advisory LLC's holdings in Abbott Laboratories were worth $2,427,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ABT. Hughes Financial Services LLC purchased a new position in Abbott Laboratories in the 1st quarter worth $27,000. Abound Financial LLC purchased a new position in Abbott Laboratories in the 1st quarter worth $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories in the 1st quarter worth $30,000. JCIC Asset Management Inc. purchased a new position in Abbott Laboratories in the 1st quarter worth $32,000. Finally, Vision Financial Markets LLC purchased a new position in Abbott Laboratories in the 1st quarter worth $33,000. 75.18% of the stock is owned by institutional investors.

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 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 sale, the chief financial officer 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 SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company's stock.

Abbott Laboratories Trading Down 2.9%

Shares of ABT opened at $129.35 on Thursday. The firm's 50-day moving average price is $132.59 and its 200-day moving average price is $131.60. The firm has a market capitalization of $225.13 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 2.53 and a beta of 0.69. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 1-year low of $110.86 and a 1-year 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 for the quarter, meeting analysts' consensus estimates of $1.30. The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. 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 1.8%. Abbott Laboratories's payout ratio is presently 29.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ABT shares. Mizuho lifted their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday. Benchmark began coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They issued a "buy" rating and a $145.00 target price on the stock. Wells Fargo & Company decreased their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. The Goldman Sachs Group boosted their price objective 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. Finally, Evercore ISI boosted their price objective on shares of Abbott Laboratories from $140.00 to $144.00 and gave the company an "outperform" rating in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.17.

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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