Smith Chas P & Associates PA Cpas Sells 2,167 Shares of Abbott Laboratories $ABT

Key Points

• Smith Chas P & Associates PA Cpas reduced its stake in Abbott Laboratories by 28.3%, selling 2,167 shares and holding 5,483 shares worth $746,000 at quarter's end.
• Several institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., increased their positions in Abbott, indicating confidence in the company as 75.18% of the stock is now owned by such investors.
• Abbott Laboratories recently declared a quarterly dividend of $0.59 per share, leading to an annualized dividend yield of 1.8% and a payout ratio of 29.57%.

Smith Chas P & Associates PA Cpas lessened its position in Abbott Laboratories (NYSE:ABT - Free Report) by 28.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,483 shares of the healthcare product maker's stock after selling 2,167 shares during the quarter. Smith Chas P & Associates PA Cpas' holdings in Abbott Laboratories were worth $746,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Abbott Laboratories by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker's stock worth $22,527,039,000 after buying an additional 1,177,739 shares during the period. Wellington Management Group LLP raised its stake in Abbott Laboratories by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock valued at $3,948,117,000 after purchasing an additional 3,371,113 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Abbott Laboratories by 29.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock valued at $2,120,516,000 after purchasing an additional 3,616,471 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Abbott Laboratories by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker's stock worth $1,916,966,000 after purchasing an additional 1,639,954 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Abbott Laboratories by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker's stock valued at $1,738,831,000 after buying an additional 168,095 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on ABT. Morgan Stanley lifted their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Wells Fargo & Company decreased their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. 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 note on Wednesday, July 16th. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their target price for the company from $143.00 to $145.00 in a research report on Friday, July 18th. Finally, Evercore ISI increased their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $145.22.

Insider Buying and Selling at Abbott Laboratories

In related 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 value of $746,752.50. Following the completion of the transaction, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Trading Up 0.2%

ABT stock opened at $133.62 on Monday. The business has a fifty day moving average price of $131.14 and a 200 day moving average price of $131.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The stock has a market capitalization of $232.56 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 2.53 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts' consensus estimates of $1.26. The company had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company 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. Analysts expect that Abbott Laboratories will post 5.14 EPS 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. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio is 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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