UniSuper Management Pty Ltd Sells 96,517 Shares of Abbott Laboratories $ABT

Key Points

• UniSuper Management Pty Ltd has reduced its holdings in Abbott Laboratories by 17.4%, selling 96,517 shares, with its remaining position valued at approximately $60.96 million.
• Abbott Laboratories reported a quarterly earnings per share of $1.26, meeting consensus estimates, while revenue increased by 7.4% year-over-year to $11.14 billion.
• The company has recently announced a quarterly dividend of $0.59 per share, reflecting an annualized dividend yield of 1.8%.

UniSuper Management Pty Ltd lessened its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 17.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 459,551 shares of the healthcare product maker's stock after selling 96,517 shares during the quarter. UniSuper Management Pty Ltd's holdings in Abbott Laboratories were worth $60,959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Kelly Financial Services LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $216,000. Bank Pictet & Cie Europe AG lifted its stake in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after acquiring an additional 2,774 shares during the last quarter. Edge Financial Advisors LLC lifted its stake in shares of Abbott Laboratories by 3.3% in the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after acquiring an additional 81 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $84,418,000. Finally, Cerity Partners LLC lifted its stake in shares of Abbott Laboratories by 49.8% in the 1st quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker's stock valued at $199,939,000 after acquiring an additional 501,200 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Down 1.9%

Shares of ABT stock traded down $2.56 during midday trading on Wednesday, reaching $129.39. 7,392,932 shares of the stock were exchanged, compared to its average volume of 6,688,948. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The company's 50 day moving average is $130.52 and its two-hundred day moving average is $131.36. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The firm has a market cap of $225.20 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 2.51 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the business earned $1.14 EPS. The business's revenue for the quarter was up 7.4% on a year-over-year basis. 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, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were paid a $0.59 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their target price for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Raymond James Financial lowered their target price on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, July 18th. Mizuho boosted 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. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Finally, Royal Bank Of Canada boosted their price target on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Two research 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $144.47.

Insider Buying and Selling at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the sale, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

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.