SVB Wealth LLC Sells 47,164 Shares of Abbott Laboratories $ABT

Key Points

• SVB Wealth LLC has reduced its holdings in Abbott Laboratories by 17.3%, selling 47,164 shares during the first quarter, leaving it with 225,249 shares valued at nearly $30 million.
• Analyst ratings for Abbott Laboratories show an overall consensus of Moderate Buy, with two analysts rating it as Strong Buy and a price target increase from $127 to $137 by Morgan Stanley.
• Abbott Laboratories recently announced a quarterly dividend of $0.59 per share, reflecting an annualized yield of 1.8%, with a dividend payout ratio of 29.57%.

SVB Wealth LLC cut its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 17.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 225,249 shares of the healthcare product maker's stock after selling 47,164 shares during the period. Abbott Laboratories accounts for about 1.2% of SVB Wealth LLC's investment portfolio, making the stock its 13th biggest position. SVB Wealth LLC's holdings in Abbott Laboratories were worth $29,879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cim LLC raised its stake 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 during the last quarter. Consilium Wealth Advisory LLC raised its stake in shares of Abbott Laboratories by 2.1% during the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock worth $507,000 after buying an additional 78 shares during the last quarter. Mayflower Financial Advisors LLC raised its stake in shares of Abbott Laboratories by 0.5% during the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock worth $2,298,000 after buying an additional 78 shares during the last quarter. Opes Wealth Management LLC raised its stake in shares of Abbott Laboratories by 2.9% during the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock worth $379,000 after buying an additional 80 shares during the last quarter. Finally, Lcnb Corp raised its stake in shares of Abbott Laboratories by 0.5% during the first quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker's stock worth $2,111,000 after buying an additional 80 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Down 0.1%

Shares of Abbott Laboratories stock traded down $0.20 on Wednesday, hitting $131.39. The company had a trading volume of 4,758,701 shares, compared to its average volume of 6,778,968. The firm has a market capitalization of $228.68 billion, a P/E ratio of 16.47, a P/E/G ratio of 2.50 and a beta of 0.70. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The stock has a 50-day moving average of $131.03 and a 200-day moving average of $131.33.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. The company had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $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. Research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company 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 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 15th. Abbott Laboratories's dividend 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 company's stock in a transaction 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 sale, 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 is available through this hyperlink. Company insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

ABT has been the subject of several recent analyst reports. Leerink Partners initiated coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price for the company. Raymond James Financial lowered their target price on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, July 18th. Evercore ISI upped their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Finally, BTIG Research reduced their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

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.