Trillium Asset Management LLC Buys 651 Shares of Abbott Laboratories $ABT

Trillium Asset Management LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT) by 10.6% during the second quarter, Holdings Channel reports. The institutional investor owned 6,771 shares of the healthcare product maker’s stock after purchasing an additional 651 shares during the quarter. Trillium Asset Management LLC’s holdings in Abbott Laboratories were worth $921,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Barn Wealth LLC grew its holdings in Abbott Laboratories by 6.4% in the 2nd quarter. Blue Barn Wealth LLC now owns 3,588 shares of the healthcare product maker’s stock worth $488,000 after acquiring an additional 215 shares during the last quarter. Ellevest Inc. boosted its holdings in shares of Abbott Laboratories by 8.0% during the second quarter. Ellevest Inc. now owns 10,144 shares of the healthcare product maker’s stock worth $1,380,000 after purchasing an additional 752 shares during the period. Commonwealth Retirement Investments LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth about $2,757,000. Artemis Wealth Advisors LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth about $235,000. Finally, Jacobson & Schmitt Advisors LLC purchased a new stake in shares of Abbott Laboratories during the second quarter worth about $385,000. 75.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. Morgan Stanley increased their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Evercore ISI lowered their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Benchmark began coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 price objective for the company. Finally, The Goldman Sachs Group raised their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Price Performance

ABT stock opened at $124.62 on Thursday. The firm has a 50 day moving average price of $131.04 and a 200-day moving average price of $131.48. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The firm has a market capitalization of $216.70 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 2.36 and a beta of 0.68. 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 (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Insider Buying and Selling at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s 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 completion of the sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

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.