Abbott Laboratories $ABT Stock Position Cut by Broderick Brian C

Broderick Brian C decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.8% during the second quarter, HoldingsChannel reports. The firm owned 121,819 shares of the healthcare product maker’s stock after selling 4,747 shares during the quarter. Abbott Laboratories accounts for approximately 3.3% of Broderick Brian C’s holdings, making the stock its 7th biggest position. Broderick Brian C’s holdings in Abbott Laboratories were worth $16,569,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC bought a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $1,658,180,000. Goldman Sachs Group Inc. boosted its holdings in shares of Abbott Laboratories by 29.2% during 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. Wellington Management Group LLP grew 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 worth $3,948,117,000 after buying an additional 3,371,113 shares during the period. Massachusetts Financial Services Co. MA increased its stake 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 worth $1,916,966,000 after acquiring an additional 1,639,954 shares in the last quarter. Finally, Jensen Investment Management Inc. lifted its position in Abbott Laboratories by 1,221.2% during the 1st quarter. Jensen Investment Management Inc. now owns 1,365,785 shares of the healthcare product maker’s stock valued at $181,171,000 after acquiring an additional 1,262,407 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABT has been the topic of a number of recent research reports. Leerink Partners began coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a “market perform” rating and a $143.00 price objective on the stock. Morgan Stanley upped their price target on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Royal Bank Of Canada lifted their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. BTIG Research cut their target price on 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, 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 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 $146.24.

Abbott Laboratories Stock Down 0.5%

Abbott Laboratories stock opened at $133.05 on Wednesday. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The stock has a fifty day simple moving average of $132.19 and a two-hundred day simple moving average of $131.45. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The firm has a market cap of $231.58 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 2.54 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the company posted $1.14 earnings per share. The company’s quarterly revenue 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. Equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories’s payout ratio is currently 29.57%.

Insider Buying and Selling at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by 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.