Worth Asset Management LLC Has $203,000 Stock Position in Abbott Laboratories $ABT

Key Points

• Worth Asset Management LLC significantly reduced its holdings in Abbott Laboratories by 86.4%, selling 9,491 shares to end the quarter with only 1,493 shares valued at $203,000.
• Institutional investor ownership of Abbott Laboratories is high, currently at 75.18%, with notable increases in holdings by firms like Security National Bank and Mogy Joel R Investment Counsel Inc. during the same quarter.
• Abbott Laboratories recently announced a quarterly dividend of $0.59, resulting in an annualized yield of 1.7% and is set to be paid on November 17th to shareholders recorded by October 15th.

Worth Asset Management LLC trimmed its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 86.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,493 shares of the healthcare product maker's stock after selling 9,491 shares during the quarter. Worth Asset Management LLC's holdings in Abbott Laboratories were worth $203,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ABT. Brighton Jones LLC grew its position in Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after acquiring an additional 4,755 shares during the period. Bank Pictet & Cie Europe AG grew its position in Abbott Laboratories by 1.9% during the fourth 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 period. Woodline Partners LP purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $5,997,000. Novem Group purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $251,000. Finally, Vise Technologies Inc. grew its position in Abbott Laboratories by 48.0% during the fourth quarter. Vise Technologies Inc. now owns 23,153 shares of the healthcare product maker's stock valued at $2,619,000 after acquiring an additional 7,505 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ABT. Leerink Partners began coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a "market perform" rating and a $143.00 price target for the company. Royal Bank Of Canada upped their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Morgan Stanley upped their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. BTIG Research decreased their target price on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Finally, Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $145.22.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded up $1.18 during mid-day trading on Monday, hitting $137.22. 2,771,390 shares of the company's stock traded hands, compared to its average volume of 6,646,569. The firm has a 50 day moving average price of $130.47 and a 200 day moving average price of $131.12. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The company has a market cap of $238.82 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 2.58 and a beta of 0.69. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its 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 firm had revenue of $11.14 billion for 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%.The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business 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 analysts forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business 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 dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.7%. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

Insider Buying and Selling at Abbott Laboratories

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

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.