Abbott Laboratories $ABT Shares Sold by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC cut its position in shares of Abbott Laboratories (NYSE:ABT) by 2.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,243 shares of the healthcare product maker’s stock after selling 144 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Abbott Laboratories were worth $713,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories during the first quarter worth about $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories during the first quarter worth about $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories during the first quarter worth about $30,000. JCIC Asset Management Inc. purchased a new stake in shares of Abbott Laboratories during the first quarter worth about $32,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Abbott Laboratories during the first quarter worth about $33,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ABT shares. Leerink Partners initiated coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They set a “market perform” rating and a $143.00 price target for the company. Wells Fargo & Company lowered their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a report on Friday, July 18th. Royal Bank Of Canada boosted their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Finally, BTIG Research lowered their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.24.

Abbott Laboratories Price Performance

ABT opened at $133.24 on Friday. 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 52-week low of $110.86 and a 52-week high of $141.23. The company has a 50 day moving average of $132.44 and a two-hundred day moving average of $131.52. The company has a market cap of $231.90 billion, a P/E ratio of 16.70, a P/E/G ratio of 2.55 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the firm earned $1.14 earnings per share. Abbott Laboratories’s revenue for the quarter was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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

Insider Transactions at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’s 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 completion of the transaction, the chief financial officer directly owned 51,003 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.

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.