True North Advisors LLC Reduces Stock Holdings in Abbott Laboratories $ABT

Key Points

• True North Advisors LLC has reduced its holdings in Abbott Laboratories by 23.5%, selling 5,983 shares and now holding 19,490 shares valued at approximately $2.65 million.
• Multiple institutional investors have recently made moves with Abbott's stock, with 75.18% of the company's stock owned by hedge funds and other institutions.
• Abbott Laboratories reported an earnings-per-share (EPS) of $1.26 for the most recent quarter, meeting consensus estimates, with a revenue of $11.14 billion, reflecting a 7.4% increase year-over-year.

True North Advisors LLC decreased its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 23.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,490 shares of the healthcare product maker's stock after selling 5,983 shares during the quarter. True North Advisors LLC's holdings in Abbott Laboratories were worth $2,651,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABT. Hughes Financial Services LLC purchased a new position in Abbott Laboratories during the first quarter valued at $27,000. Abound Financial LLC purchased a new position in Abbott Laboratories during the first quarter valued at $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories during the first quarter valued at $30,000. JCIC Asset Management Inc. purchased a new position in Abbott Laboratories during the first quarter valued at $32,000. Finally, Vision Financial Markets LLC purchased a new position in Abbott Laboratories during the first quarter valued at $33,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Wall Street Analyst Weigh In

ABT has been the subject of several recent research reports. Royal Bank Of Canada raised their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Raymond James Financial reduced their price target on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Mizuho raised their price target on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Finally, Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and raised their price target for the company from $143.00 to $145.00 in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and an average price target of $145.22.

Abbott Laboratories Price Performance

NYSE ABT opened at $133.38 on Friday. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The stock has a 50-day moving average of $130.94 and a 200 day moving average of $131.14. The company has a market capitalization of $232.13 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.54 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 released its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting the consensus estimate of $1.26. The company 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%.Abbott Laboratories's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the company earned $1.14 EPS. 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 year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was 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 trade represents a 9.81% decrease in their ownership of the stock. 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.

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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