Abbott Laboratories $ABT Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its stake in Abbott Laboratories by 6.4%, selling 490,428 shares and retaining approximately 7.17 million shares valued at about $951 million.
• Abbott Laboratories reported $11.14 billion in revenue for the quarter, which exceeded analysts' expectations, and its earnings per share matched the consensus estimate of $1.26.
• The company has declared a quarterly dividend of $0.59, with an annualized dividend yield of 1.8% and a payout ratio of approximately 29.57%.

Royal Bank of Canada cut its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 6.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,169,799 shares of the healthcare product maker's stock after selling 490,428 shares during the quarter. Royal Bank of Canada owned about 0.41% of Abbott Laboratories worth $951,075,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ABT. Cim LLC increased its holdings in shares of Abbott Laboratories by 0.4% during the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock worth $1,919,000 after buying an additional 73 shares in the last quarter. Consilium Wealth Advisory LLC lifted its position in Abbott Laboratories by 2.1% in the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock valued at $507,000 after acquiring an additional 78 shares in the last quarter. Mayflower Financial Advisors LLC lifted its position in Abbott Laboratories by 0.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock valued at $2,298,000 after acquiring an additional 78 shares in the last quarter. Opes Wealth Management LLC increased its stake in shares of Abbott Laboratories by 2.9% during the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock worth $379,000 after purchasing an additional 80 shares during the last quarter. Finally, Lcnb Corp increased its stake in shares of Abbott Laboratories by 0.5% during the 1st quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker's stock worth $2,111,000 after purchasing an additional 80 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

ABT stock traded up $0.55 during trading on Wednesday, hitting $132.01. The stock had a trading volume of 4,768,063 shares, compared to its average volume of 5,062,849. The company's 50 day moving average price is $130.84 and its two-hundred day moving average price is $131.36. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The stock has a market cap of $229.75 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. 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 posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 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 during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the company posted $1.14 EPS. The company's quarterly 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, sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared 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. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 15th. Abbott Laboratories's payout ratio is 29.57%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ABT has been the subject of several analyst reports. Evercore ISI raised their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Leerink Partners initiated coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a "market perform" rating and a $143.00 price target on the stock. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Mizuho increased their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and upped their target price for the company from $143.00 to $145.00 in a 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 issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $144.47.

Abbott Laboratories Company 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.