Heritage Financial Services LLC Cuts Stock Holdings in Abbott Laboratories $ABT

Heritage Financial Services LLC lessened its position in Abbott Laboratories (NYSE:ABT) by 4.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,756 shares of the healthcare product maker’s stock after selling 185 shares during the quarter. Heritage Financial Services LLC’s holdings in Abbott Laboratories were worth $511,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Abbott Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker’s stock worth $22,527,039,000 after buying an additional 1,177,739 shares in the last quarter. Wellington Management Group LLP raised its holdings in 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 acquiring an additional 3,371,113 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in 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 worth $2,120,516,000 after purchasing an additional 3,616,471 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Abbott Laboratories by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock worth $1,916,966,000 after purchasing an additional 1,639,954 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Abbott Laboratories by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker’s stock valued at $1,738,831,000 after purchasing an additional 168,095 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

ABT opened at $133.53 on Thursday. The stock’s 50-day moving average price is $131.63 and its 200 day moving average price is $131.24. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The firm has a market cap of $232.39 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.54 and a beta of 0.69. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last issued 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. 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 for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. As a group, sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories’s payout ratio is 29.57%.

Insider Buying and Selling 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 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 owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James Financial cut their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, July 18th. Evercore ISI boosted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Wells Fargo & Company cut their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a report on Friday, July 18th. Finally, Morgan Stanley upped their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Two investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.39.

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.