Abbott Laboratories $ABT Shares Sold by Gables Capital Management Inc.

Gables Capital Management Inc. reduced its stake in Abbott Laboratories (NYSE:ABT) by 49.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,160 shares of the healthcare product maker’s stock after selling 1,125 shares during the quarter. Gables Capital Management Inc.’s holdings in Abbott Laboratories were worth $158,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ABT. Brighton Jones LLC increased its stake in Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after buying an additional 4,755 shares during the period. GAMMA Investing LLC increased its stake in Abbott Laboratories by 17.0% during the 1st quarter. GAMMA Investing LLC now owns 38,467 shares of the healthcare product maker’s stock worth $5,103,000 after buying an additional 5,590 shares during the period. Advisor Resource Council purchased a new stake in Abbott Laboratories during the 1st quarter worth approximately $334,000. Valmark Advisers Inc. increased its stake in Abbott Laboratories by 6.6% during the 1st quarter. Valmark Advisers Inc. now owns 17,093 shares of the healthcare product maker’s stock worth $2,267,000 after buying an additional 1,061 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in Abbott Laboratories by 4.7% during the 1st quarter. Asset Management One Co. Ltd. now owns 818,644 shares of the healthcare product maker’s stock worth $108,593,000 after buying an additional 37,033 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 1.4%

Shares of NYSE:ABT opened at $127.68 on Wednesday. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company’s 50 day moving average is $132.28 and its two-hundred day moving average is $131.54. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The company has a market cap of $222.21 billion, a PE ratio of 16.00, a P/E/G ratio of 2.46 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates 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 the consensus estimate of $11.40 billion. During the same period in the prior year, the firm posted $1.21 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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 given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ABT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. Raymond James Financial upped their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Jefferies Financial Group upped their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, Benchmark assumed coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They set a “buy” rating and a $145.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $147.00.

Insider Activity at Abbott Laboratories

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

Abbott Laboratories 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.