Wealthstar Advisors LLC Decreases Position in Abbott Laboratories $ABT

Key Points

• Wealthstar Advisors LLC reduced its stake in Abbott Laboratories by 34.2%, now holding 6,867 shares valued at approximately $934,000 after selling 3,564 shares in the second quarter.
• Abbott Laboratories reported earnings of $1.26 per share, matching analysts' estimates, with revenue reaching $11.14 billion, up 7.4% year-over-year.
• The company announced a quarterly dividend of $0.59 per share, with a scheduled payment date of November 17th for investors of record on October 15th.

Wealthstar Advisors LLC cut its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 34.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,867 shares of the healthcare product maker's stock after selling 3,564 shares during the quarter. Wealthstar Advisors LLC's holdings in Abbott Laboratories were worth $934,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Hughes Financial Services LLC purchased a new position in Abbott Laboratories in the 1st quarter valued at about $27,000. Abound Financial LLC purchased a new position in Abbott Laboratories in the 1st quarter valued at about $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories in the 1st quarter valued at about $30,000. JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories in the 1st quarter valued at about $32,000. Finally, Vision Financial Markets LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at about $33,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 0.8%

Shares of NYSE ABT opened at $133.24 on Friday. The company has a 50 day simple moving average of $132.44 and a 200-day simple moving average of $131.52. The company has a market capitalization of $231.90 billion, a P/E ratio of 16.70, a P/E/G ratio of 2.55 and a beta of 0.69. 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 1 year low of $110.86 and a 1 year high of $141.23.

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

Abbott Laboratories Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on ABT shares. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and increased their price objective for the company from $143.00 to $145.00 in a report on Friday, July 18th. Leerink Partners started coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price objective for the company. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Evercore ISI increased their price objective on shares of Abbott Laboratories from $140.00 to $144.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Abbott Laboratories in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $146.24.

Insider Buying and Selling at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer 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 position. The transaction 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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