William Blair Investment Management LLC Has $6.43 Million Position in Abbott Laboratories $ABT

Key Points

• William Blair Investment Management LLC reduced its holdings in Abbott Laboratories by 32.9%, owning 47,284 shares valued at approximately $6.43 million as of the last SEC filing.
• Abbott Laboratories reported $1.30 earnings per share (EPS) for the last quarter, meeting consensus estimates, with revenue showing a 6.9% year-over-year increase.
• The company announced a quarterly dividend of $0.59 per share, equating to an annualized yield of 1.8%, with 75.18% of shares owned by institutional investors.

William Blair Investment Management LLC cut its position in Abbott Laboratories (NYSE:ABT - Free Report) by 32.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,284 shares of the healthcare product maker's stock after selling 23,203 shares during the quarter. William Blair Investment Management LLC's holdings in Abbott Laboratories were worth $6,431,000 as of its most recent SEC filing.

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

Abbott Laboratories Trading Up 0.7%

Shares of NYSE ABT opened at $129.49 on Tuesday. 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 has a 52-week low of $110.86 and a 52-week high of $141.23. The firm has a 50 day moving average price of $132.34 and a two-hundred day moving average price of $131.57. The stock has a market cap of $225.38 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The firm had revenue of $11.37 billion during the quarter, compared to analysts' expectations of $11.40 billion. During the same period in the prior year, the company posted $1.21 EPS. The company's revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis 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 currently 29.57%.

Insider Activity at Abbott Laboratories

In other 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 value 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ABT shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an "overweight" rating in a research report on Thursday, October 16th. Evercore ISI lowered their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an "outperform" rating for the company in a research report on Wednesday, October 15th. Barclays upped their price objective on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, BTIG Research reiterated a "buy" rating and set a $145.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.61.

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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