Abbott Laboratories $ABT Stock Position Cut by Keybank National Association OH

Keybank National Association OH lessened its stake in Abbott Laboratories (NYSE:ABT) by 0.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,318,355 shares of the healthcare product maker’s stock after selling 7,140 shares during the quarter. Abbott Laboratories comprises 0.7% of Keybank National Association OH’s holdings, making the stock its 29th biggest position. Keybank National Association OH’s holdings in Abbott Laboratories were worth $179,310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Premier Path Wealth Partners LLC lifted its holdings in Abbott Laboratories by 11.6% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 8,576 shares of the healthcare product maker’s stock valued at $1,166,000 after acquiring an additional 892 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in Abbott Laboratories by 20.3% in the 2nd quarter. Arkadios Wealth Advisors now owns 27,753 shares of the healthcare product maker’s stock valued at $3,775,000 after acquiring an additional 4,683 shares during the last quarter. World Investment Advisors lifted its holdings in Abbott Laboratories by 13.3% in the 2nd quarter. World Investment Advisors now owns 59,942 shares of the healthcare product maker’s stock valued at $8,153,000 after acquiring an additional 7,023 shares during the last quarter. Daymark Wealth Partners LLC lifted its holdings in Abbott Laboratories by 15.8% in the 2nd quarter. Daymark Wealth Partners LLC now owns 57,806 shares of the healthcare product maker’s stock valued at $7,862,000 after acquiring an additional 7,907 shares during the last quarter. Finally, Whalen Wealth Management Inc. acquired a new stake in Abbott Laboratories in the 2nd quarter valued at about $469,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the subject of a number of research analyst reports. Sanford C. Bernstein upped their price target on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Raymond James Financial upped their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Finally, BTIG Research reaffirmed a “buy” rating and set a $145.00 price objective on shares of Abbott Laboratories in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Price Performance

ABT stock opened at $124.42 on Thursday. The firm has a market capitalization of $216.55 billion, a PE ratio of 15.59, a P/E/G ratio of 2.40 and a beta of 0.69. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. 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 firm has a 50-day moving average of $131.78 and a two-hundred day moving average of $131.64.

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

Abbott Laboratories Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio is currently 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.