OFI Invest Asset Management Trims Stake in Abbott Laboratories $ABT

OFI Invest Asset Management reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 0.9% in the second quarter, Holdings Channel reports. The firm owned 10,807 shares of the healthcare product maker’s stock after selling 102 shares during the period. OFI Invest Asset Management’s holdings in Abbott Laboratories were worth $1,470,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hughes Financial Services LLC purchased a new position in Abbott Laboratories in the first quarter worth $27,000. Abound Financial LLC purchased a new position in Abbott Laboratories in the first quarter worth $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories in the first quarter worth $30,000. JCIC Asset Management Inc. purchased a new position in Abbott Laboratories in the first quarter worth $32,000. Finally, Vision Financial Markets LLC purchased a new position in Abbott Laboratories in the first quarter worth $33,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. 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 target price for the company. BTIG Research cut their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Benchmark assumed coverage on shares of Abbott Laboratories in a research report on Friday. They set a “buy” rating and a $145.00 price target for the company. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Finally, Evercore ISI upped their price target on shares of Abbott Laboratories from $140.00 to $144.00 and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $146.17.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $132.30 on Friday. The company has a market cap of $230.26 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 2.51 and a beta of 0.69. The company has a 50-day moving average price of $132.54 and a 200-day moving average price of $131.60. 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 has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. The firm had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 earnings per share. 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, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is 29.57%.

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.