Argonautica Private Wealth Management Inc. Cuts Holdings in Abbott Laboratories $ABT

Argonautica Private Wealth Management Inc. trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 93.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,668 shares of the healthcare product maker’s stock after selling 39,470 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in Abbott Laboratories were worth $363,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. increased its stake in Abbott Laboratories by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker’s stock valued at $22,527,039,000 after purchasing an additional 1,177,739 shares in the last quarter. Wellington Management Group LLP increased its stake in Abbott Laboratories by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after purchasing an additional 3,371,113 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Abbott Laboratories by 29.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock valued at $2,120,516,000 after purchasing an additional 3,616,471 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Abbott Laboratories by 12.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock valued at $1,916,966,000 after purchasing an additional 1,639,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Abbott Laboratories by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker’s stock valued at $1,738,831,000 after purchasing an additional 168,095 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ABT has been the subject of several research analyst reports. The Goldman Sachs Group raised their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Wells Fargo & Company raised their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Evercore ISI dropped their price objective on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research note on Wednesday, October 15th. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Jefferies Financial Group raised their price target on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Two research 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, the stock has an average rating of “Moderate Buy” and an average price target of $147.00.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories 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 owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

ABT stock 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 stock’s fifty day simple moving average is $132.28 and its 200-day simple moving average is $131.54. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $222.21 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 2.46 and a beta of 0.69.

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

Abbott Laboratories Announces Dividend

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

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.