Abbott Laboratories $ABT Shares Sold by Opes Wealth Management LLC

Opes Wealth Management LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 20.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,273 shares of the healthcare product maker’s stock after selling 581 shares during the period. Opes Wealth Management LLC’s holdings in Abbott Laboratories were worth $309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ABT. 180 Wealth Advisors LLC grew its holdings in shares of Abbott Laboratories by 12.7% during the second quarter. 180 Wealth Advisors LLC now owns 2,038 shares of the healthcare product maker’s stock worth $277,000 after purchasing an additional 229 shares during the last quarter. Carnegie Investment Counsel grew its holdings in shares of Abbott Laboratories by 2.1% during the second quarter. Carnegie Investment Counsel now owns 307,890 shares of the healthcare product maker’s stock worth $41,876,000 after purchasing an additional 6,328 shares during the last quarter. Strata Wealth Advisors LLC purchased a new position in shares of Abbott Laboratories during the second quarter worth about $230,000. Avion Wealth grew its holdings in shares of Abbott Laboratories by 146.2% during the second quarter. Avion Wealth now owns 896 shares of the healthcare product maker’s stock worth $121,000 after purchasing an additional 532 shares during the last quarter. Finally, FSM Wealth Advisors LLC grew its holdings in shares of Abbott Laboratories by 1.7% during the second quarter. FSM Wealth Advisors LLC now owns 12,966 shares of the healthcare product maker’s stock worth $1,734,000 after purchasing an additional 223 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ABT shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 price objective on shares of Abbott Laboratories in a report on Thursday, October 16th. Evercore ISI cut their price objective on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Jefferies Financial Group lifted their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Sanford C. Bernstein lifted their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Price Performance

ABT opened at $126.44 on Friday. The firm has a market cap of $220.06 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 2.43 and a beta of 0.69. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company’s 50-day moving average price is $132.19 and its 200 day moving average price is $131.53. 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 (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting the consensus estimate of $1.30. The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. Abbott Laboratories’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred 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 $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by company insiders.

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.