Xcel Wealth Management LLC Decreases Stock Holdings in Abbott Laboratories $ABT

Key Points

• Xcel Wealth Management LLC reduced its holdings in Abbott Laboratories by 12.8%, now owning 14,030 shares valued at approximately $1.9 million.
• Abbott Laboratories received several upgrades from analysts, with target prices rising, including Morgan Stanley increasing it from $127 to $137 and Jefferies from $143 to $145.
• The company recently announced a quarterly dividend of $0.59 per share, with an ex-dividend date set for October 15th, resulting in an annualized yield of 1.8%.

Xcel Wealth Management LLC lowered its position in Abbott Laboratories (NYSE:ABT - Free Report) by 12.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,030 shares of the healthcare product maker's stock after selling 2,067 shares during the period. Xcel Wealth Management LLC's holdings in Abbott Laboratories were worth $1,908,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ABT. Riverbridge Partners LLC purchased a new position in Abbott Laboratories in the second quarter worth $1,874,000. Signal Tree Financial Partners LLC purchased a new position in Abbott Laboratories during the 2nd quarter worth $354,000. Signet Financial Management LLC increased its position in Abbott Laboratories by 6.5% during the 2nd quarter. Signet Financial Management LLC now owns 3,066 shares of the healthcare product maker's stock valued at $417,000 after buying an additional 188 shares in the last quarter. Verum Partners LLC raised its stake in Abbott Laboratories by 50.3% in the second quarter. Verum Partners LLC now owns 3,348 shares of the healthcare product maker's stock valued at $455,000 after buying an additional 1,120 shares during the last quarter. Finally, Legacy Solutions LLC boosted its holdings in Abbott Laboratories by 8.4% in the second quarter. Legacy Solutions LLC now owns 1,842 shares of the healthcare product maker's stock worth $251,000 after acquiring an additional 142 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Morgan Stanley upped their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Mizuho lifted their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Evercore ISI upped their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their price target for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given 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.

Insider Buying and Selling at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business'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 completion of the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

NYSE:ABT opened at $133.80 on Thursday. The firm's fifty day moving average is $130.69 and its two-hundred day moving average is $131.17. The firm has a market cap of $232.87 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 2.58 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 has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The company'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. Research analysts expect 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 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%.

Abbott Laboratories Company 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.

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