Abbott Laboratories $ABT Shares Sold by Cypress Wealth Services LLC

Cypress Wealth Services LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 21.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,369 shares of the healthcare product maker’s stock after selling 652 shares during the quarter. Cypress Wealth Services LLC’s holdings in Abbott Laboratories were worth $322,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Sagespring Wealth Partners LLC boosted its position in Abbott Laboratories by 11.1% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 29,447 shares of the healthcare product maker’s stock worth $4,005,000 after acquiring an additional 2,948 shares during the period. Boston Trust Walden Corp boosted its position in Abbott Laboratories by 9.5% during the 2nd quarter. Boston Trust Walden Corp now owns 50,751 shares of the healthcare product maker’s stock worth $6,903,000 after acquiring an additional 4,418 shares during the period. TD Asset Management Inc boosted its position in Abbott Laboratories by 98.6% during the 2nd quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock worth $471,669,000 after acquiring an additional 1,721,523 shares during the period. Founders Grove Wealth Partners LLC boosted its position in Abbott Laboratories by 3.8% during the 2nd quarter. Founders Grove Wealth Partners LLC now owns 4,339 shares of the healthcare product maker’s stock worth $590,000 after acquiring an additional 160 shares during the period. Finally, Perfromance Wealth Partners LLC boosted its position in Abbott Laboratories by 93.3% during the 2nd quarter. Perfromance Wealth Partners LLC now owns 5,783 shares of the healthcare product maker’s stock worth $787,000 after acquiring an additional 2,791 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the topic of a number of research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Raymond James Financial dropped their price objective on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a research note on Friday, July 18th. The Goldman Sachs Group boosted their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. BTIG Research dropped their price objective on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Finally, Morgan Stanley boosted their price objective on 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, sixteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.17.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Up 1.4%

Shares of Abbott Laboratories stock opened at $133.17 on Wednesday. The stock’s fifty day moving average is $132.62 and its 200-day moving average is $131.61. The firm has a market capitalization of $231.77 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 2.49 and a beta of 0.69. The company has a quick ratio of 1.30, a current ratio of 1.82 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 posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. The firm had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.Abbott Laboratories’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $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. Equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. 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 payout ratio is presently 29.57%.

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.