Integrity Alliance LLC. Reduces Position in Abbott Laboratories $ABT

Integrity Alliance LLC. decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 57.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,251 shares of the healthcare product maker’s stock after selling 8,552 shares during the quarter. Integrity Alliance LLC.’s holdings in Abbott Laboratories were worth $850,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of brokerages have commented on ABT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Barclays lifted their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Morgan Stanley upped their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Mizuho upped their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. 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. Based on data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Down 0.9%

NYSE ABT opened at $123.61 on Friday. The stock has a market capitalization of $215.13 billion, a P/E ratio of 15.49, a PEG ratio of 2.36 and a beta of 0.69. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. 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 firm’s 50-day moving average is $131.45 and its two-hundred day moving average is $131.56.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results 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. The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business’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 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. 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.