Truist Financial Corp Sells 22,999 Shares of Abbott Laboratories $ABT

Truist Financial Corp lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,319,288 shares of the healthcare product maker’s stock after selling 22,999 shares during the quarter. Truist Financial Corp’s holdings in Abbott Laboratories were worth $179,436,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Consilium Wealth Advisory LLC raised its holdings in shares of Abbott Laboratories by 2.1% in the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock valued at $507,000 after purchasing an additional 78 shares during the last quarter. Mayflower Financial Advisors LLC increased its stake in Abbott Laboratories by 0.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock valued at $2,298,000 after buying an additional 78 shares during the last quarter. FF Advisors LLC lifted its position in shares of Abbott Laboratories by 4.3% during the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after buying an additional 79 shares in the last quarter. Charles Schwab Trust Co boosted its stake in shares of Abbott Laboratories by 0.6% in the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after buying an additional 79 shares during the last quarter. Finally, Opes Wealth Management LLC grew its holdings in shares of Abbott Laboratories by 2.9% in the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock valued at $379,000 after acquiring an additional 80 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

NYSE ABT opened at $133.97 on Wednesday. The firm has a market cap of $233.17 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. 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’s 50 day moving average is $131.48 and its 200-day moving average is $131.22. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period last year, the firm earned $1.14 EPS. Abbott Laboratories’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. Sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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 issued 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 yield of 1.8%. Abbott Laboratories’s dividend payout ratio is 29.57%.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of recent analyst reports. Royal Bank Of Canada lifted their price target on Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Leerink Partners initiated coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a “market perform” rating and a $143.00 price target on the stock. Jefferies Financial Group upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and raised their price objective for the stock from $143.00 to $145.00 in a report on Friday, July 18th. BTIG Research dropped their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Finally, Evercore ISI increased their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Two 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.22.

Insiders Place Their Bets

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