Bogart Wealth LLC Lowers Position in Abbott Laboratories $ABT

Bogart Wealth LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 7.5% during the 2nd quarter, Holdings Channel reports. The fund owned 1,098 shares of the healthcare product maker’s stock after selling 89 shares during the period. Bogart Wealth LLC’s holdings in Abbott Laboratories were worth $149,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Mayflower Financial Advisors LLC increased its holdings in Abbott Laboratories by 0.5% during the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock valued at $2,298,000 after buying an additional 78 shares during the period. FF Advisors LLC increased its holdings in shares of Abbott Laboratories by 4.3% in the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock valued at $259,000 after acquiring an additional 79 shares during the period. Charles Schwab Trust Co raised its position in shares of Abbott Laboratories by 0.6% in the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after acquiring an additional 79 shares in the last quarter. Opes Wealth Management LLC lifted its stake in shares of Abbott Laboratories by 2.9% during the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock worth $379,000 after purchasing an additional 80 shares during the last quarter. Finally, Lcnb Corp boosted its position in Abbott Laboratories by 0.5% during the first quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker’s stock valued at $2,111,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Sanford C. Bernstein increased their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Barclays raised their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday. BTIG Research reiterated a “buy” rating and set a $145.00 price objective on shares of Abbott Laboratories in a report on Wednesday, October 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.61.

Abbott Laboratories Price Performance

NYSE ABT opened at $129.49 on Tuesday. The company has a market cap of $225.38 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 2.44 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The stock’s fifty day moving average price is $132.34 and its 200 day moving average price is $131.57. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting 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 the consensus estimate of $11.40 billion. During the same quarter in the previous year, the business earned $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. As a group, equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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 presently 29.57%.

Insider Activity at Abbott Laboratories

In other 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.