Nicholson Wealth Management Group LLC Lowers Stake in Abbott Laboratories $ABT

Nicholson Wealth Management Group LLC cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,516 shares of the healthcare product maker’s stock after selling 101 shares during the period. Abbott Laboratories accounts for approximately 1.1% of Nicholson Wealth Management Group LLC’s investment portfolio, making the stock its 21st biggest holding. Nicholson Wealth Management Group LLC’s holdings in Abbott Laboratories were worth $1,838,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ABT. Nuveen LLC acquired a new position in shares of Abbott Laboratories during the first quarter worth $1,658,180,000. Goldman Sachs Group Inc. increased its position in shares of Abbott Laboratories by 29.2% during 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 purchasing an additional 3,616,471 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Abbott Laboratories by 12.8% during 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 purchasing an additional 3,371,113 shares in the last quarter. TD Asset Management Inc increased its position in shares of Abbott Laboratories by 98.6% during the second quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock worth $471,669,000 after purchasing an additional 1,721,523 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Abbott Laboratories by 12.8% during 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 in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

NYSE:ABT opened at $128.69 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 quick ratio of 1.30 and a current ratio of 1.82. The firm has a market cap of $223.98 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.42 and a beta of 0.69. The firm’s fifty day moving average is $132.38 and its two-hundred day moving average is $131.54.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate 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 company earned $1.21 earnings per share. The firm’s 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. Research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Insider Activity

In other 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 transaction of $746,752.50. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Raymond James Financial upped their price target on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday. Mizuho upped their target price on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday. Sanford C. Bernstein upped their target price on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company upped their target price on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a research report on Thursday. Two equities 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.61.

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.