Transatlantique Private Wealth LLC Sells 1,076 Shares of Abbott Laboratories $ABT

Transatlantique Private Wealth LLC reduced its position in Abbott Laboratories (NYSE:ABT) by 9.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,798 shares of the healthcare product maker’s stock after selling 1,076 shares during the quarter. Transatlantique Private Wealth LLC’s holdings in Abbott Laboratories were worth $1,469,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. IMG Wealth Management Inc. grew its holdings in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 167 shares during the last quarter. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at approximately $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at approximately $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at approximately $30,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at approximately $33,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Trading Up 0.1%

ABT opened at $123.77 on Tuesday. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The firm has a market capitalization of $215.22 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 2.36 and a beta of 0.69. The company’s 50 day moving average price is $131.29 and its two-hundred day moving average price is $131.56.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same period in the prior year, the firm posted $1.21 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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 $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Insider Activity 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 shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ABT. Jefferies Financial Group lifted their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Benchmark assumed coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 target price on the stock. Finally, Raymond James Financial boosted their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

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.