Petix & Botte Co Cuts Stake in Abbott Laboratories $ABT

Petix & Botte Co decreased its stake in shares of Abbott Laboratories (NYSE:ABT) by 40.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,966 shares of the healthcare product maker’s stock after selling 3,344 shares during the quarter. Petix & Botte Co’s holdings in Abbott Laboratories were worth $675,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ABT. Avanza Fonder AB increased its stake in Abbott Laboratories by 0.4% in the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after acquiring an additional 655 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Abbott Laboratories by 12.4% during the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock valued at $91,109,000 after purchasing an additional 73,780 shares in the last quarter. Madrona Financial Services LLC grew its stake in shares of Abbott Laboratories by 9.7% in the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock worth $235,000 after buying an additional 152 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of Abbott Laboratories by 0.5% in the 2nd quarter. State of Michigan Retirement System now owns 473,057 shares of the healthcare product maker’s stock worth $64,340,000 after buying an additional 2,500 shares during the last quarter. Finally, Dillon & Associates Inc. raised its position in shares of Abbott Laboratories by 1.9% during the 2nd quarter. Dillon & Associates Inc. now owns 218,655 shares of the healthcare product maker’s stock valued at $29,737,000 after buying an additional 4,095 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on ABT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. The Goldman Sachs Group increased their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Raymond James Financial boosted their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Daiwa Capital Markets upped their target price on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Finally, BTIG Research reissued a “buy” rating and set a $145.00 target price on shares of Abbott Laboratories in a research note on Wednesday, October 15th. Two 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $128.83 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $224.02 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. The firm has a 50 day moving average of $130.50 and a 200 day moving average of $131.36. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories’s dividend payout ratio (DPR) 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.