Davis Rea LTD. Lowers Stock Holdings in Abbott Laboratories $ABT

Davis Rea LTD. trimmed its position in Abbott Laboratories (NYSE:ABT) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,744 shares of the healthcare product maker’s stock after selling 1,648 shares during the quarter. Abbott Laboratories makes up approximately 1.2% of Davis Rea LTD.’s portfolio, making the stock its 25th biggest holding. Davis Rea LTD.’s holdings in Abbott Laboratories were worth $4,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABT. Nuveen LLC purchased a new stake in shares of Abbott Laboratories in the first quarter worth about $1,658,180,000. Goldman Sachs Group Inc. lifted its holdings in shares of Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after buying an additional 3,616,471 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Abbott Laboratories by 12.8% in the first 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 in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Abbott Laboratories by 12.8% in the first 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, Jensen Investment Management Inc. increased its position in shares of Abbott Laboratories by 1,221.2% in the first quarter. Jensen Investment Management Inc. now owns 1,365,785 shares of the healthcare product maker’s stock worth $181,171,000 after purchasing an additional 1,262,407 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade 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 accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday. Royal Bank Of Canada upped their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Raymond James Financial decreased their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a research report on Friday, July 18th. Benchmark assumed coverage on shares of Abbott Laboratories in a research report on Friday. They issued a “buy” rating and a $145.00 price objective on the stock. Finally, Leerink Partners assumed coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They issued a “market perform” rating and a $143.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.17.

Abbott Laboratories Stock Down 0.8%

Shares of NYSE ABT opened at $132.30 on Friday. Abbott Laboratories has a one year low of $110.86 and a one year 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’s 50 day simple moving average is $132.54 and its two-hundred day simple moving average is $131.56. The stock has a market capitalization of $230.26 billion, a P/E ratio of 16.58, a PEG ratio of 2.53 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts’ consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period last year, the business earned $1.14 earnings per share. The business’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. As a group, analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued 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 dividend payout ratio (DPR) is currently 29.57%.

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.