Secure Asset Management LLC Sells 5,288 Shares of Abbott Laboratories $ABT

Key Points

• Secure Asset Management LLC has reduced its holdings in Abbott Laboratories by 33.4%, selling 5,288 shares during the second quarter, leaving it with 10,564 shares valued at approximately $1.44 million.
• Significant institutional interest in Abbott Laboratories continues, with firms like Vanguard and Goldman Sachs increasing their stakes in the company during the first quarter.
• Analysts have recently upgraded their price targets for Abbott Laboratories, with the average target now at $144.47, reflecting a consensus rating of "Moderate Buy".

Secure Asset Management LLC decreased its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 33.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,564 shares of the healthcare product maker's stock after selling 5,288 shares during the quarter. Secure Asset Management LLC's holdings in Abbott Laboratories were worth $1,437,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $27,000. Abound Financial LLC bought a new position in shares of Abbott Laboratories during the 1st quarter valued at approximately $28,000. Elequin Capital LP bought a new position in shares of Abbott Laboratories during the 1st quarter valued at approximately $30,000. Wormser Freres Gestion bought a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $32,000. Finally, JCIC Asset Management Inc. bought a new position in shares of Abbott Laboratories during the 1st quarter valued at approximately $32,000. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ABT shares. Evercore ISI upped their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Wells Fargo & Company lowered their price target on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Morgan Stanley lifted their target price on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Finally, Leerink Partners initiated coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $145.22.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value 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. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded up $0.85 during trading on Monday, hitting $136.89. 1,822,641 shares of the company traded hands, compared to its average volume of 6,641,108. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The business's fifty day moving average is $130.47 and its 200-day moving average is $131.12. The stock has a market capitalization of $238.24 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 2.58 and a beta of 0.69. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business's revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share. 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 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. Shareholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.7%. Abbott Laboratories's dividend payout ratio is currently 29.57%.

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.