Carret Asset Management LLC Cuts Stock Position in Abbott Laboratories $ABT

Carret Asset Management LLC lessened its position in Abbott Laboratories (NYSE:ABT) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,039 shares of the healthcare product maker’s stock after selling 586 shares during the quarter. Carret Asset Management LLC’s holdings in Abbott Laboratories were worth $6,670,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IMG Wealth Management Inc. increased its holdings in Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after purchasing an additional 167 shares during the period. Hughes Financial Services LLC purchased a new stake in Abbott Laboratories during the 1st quarter worth about $27,000. Abound Financial LLC purchased a new stake in Abbott Laboratories during the 1st quarter worth about $28,000. Elequin Capital LP purchased a new stake in Abbott Laboratories during the 1st quarter worth about $30,000. Finally, Vision Financial Markets LLC purchased a new stake in Abbott Laboratories during the 1st quarter worth about $33,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ABT shares. Sanford C. Bernstein upped their price target on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Raymond James Financial upped their price target on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Benchmark began coverage on Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price target on the stock. Evercore ISI lowered 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. Finally, BTIG Research reaffirmed a “buy” rating and set a $145.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average price target of $147.00.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Down 1.7%

Shares of NYSE ABT opened at $124.42 on Thursday. The stock has a market cap of $216.55 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 2.40 and a beta of 0.69. 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 business has a 50-day moving average price of $131.78 and a 200 day moving average price of $131.64.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts forecast 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. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

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.