Oppenheimer Asset Management Inc. Decreases Stock Holdings in Abbott Laboratories $ABT

Oppenheimer Asset Management Inc. reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 250,479 shares of the healthcare product maker’s stock after selling 3,042 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Abbott Laboratories were worth $34,068,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Avanza Fonder AB lifted its position in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after purchasing an additional 655 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Abbott Laboratories by 12.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock worth $91,109,000 after purchasing an additional 73,780 shares during the last quarter. Madrona Financial Services LLC lifted its position in shares of Abbott Laboratories by 9.7% during the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock worth $235,000 after purchasing an additional 152 shares during the last quarter. SageView Advisory Group LLC lifted its position in shares of Abbott Laboratories by 18.6% during the 1st quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker’s stock worth $2,427,000 after purchasing an additional 2,873 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in Abbott Laboratories by 49.8% during the 1st quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker’s stock worth $199,939,000 after acquiring an additional 501,200 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 0.3%

ABT stock opened at $126.78 on Friday. The company’s 50 day simple moving average is $132.09 and its 200-day simple moving average is $131.61. The firm has a market capitalization of $220.65 billion, a PE ratio of 15.89, a P/E/G ratio of 2.41 and a beta of 0.69. Abbott Laboratories has a 12 month low of $110.86 and a 12 month 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.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. The business had revenue of $11.37 billion for 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 company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid 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 is presently 29.57%.

Wall Street Analyst Weigh In

A number of research firms have commented on ABT. Royal Bank Of Canada restated an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 16th. BTIG Research reiterated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research note on Wednesday, October 15th. Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Friday. Finally, Morgan Stanley boosted their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company’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 transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.46% of the company’s stock.

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.