Spectrum Asset Management Inc. NB CA Sells 841 Shares of Abbott Laboratories $ABT

Spectrum Asset Management Inc. NB CA lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 3.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,957 shares of the healthcare product maker’s stock after selling 841 shares during the period. Abbott Laboratories comprises approximately 1.5% of Spectrum Asset Management Inc. NB CA’s investment portfolio, making the stock its 28th biggest holding. Spectrum Asset Management Inc. NB CA’s holdings in Abbott Laboratories were worth $3,394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Consilium Wealth Advisory LLC lifted its holdings in shares of Abbott Laboratories by 2.1% in the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock worth $507,000 after buying an additional 78 shares during the period. Mayflower Financial Advisors LLC raised its holdings in shares of Abbott Laboratories by 0.5% in 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 acquiring an additional 78 shares in the last quarter. FF Advisors LLC lifted its stake in Abbott Laboratories by 4.3% in the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after acquiring an additional 79 shares during the period. Charles Schwab Trust Co grew its holdings in Abbott Laboratories by 0.6% during 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. Finally, Opes Wealth Management LLC increased its position in 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 valued at $379,000 after purchasing an additional 80 shares during the period. Institutional investors own 75.18% of the company’s stock.

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 dated 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 owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on ABT. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Leerink Partnrs raised Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Raymond James Financial reduced their price target on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, July 18th. 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 report on Wednesday, October 1st. Finally, Jefferies Financial Group upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and lifted their target price for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.24.

Abbott Laboratories Stock Down 0.5%

Shares of ABT stock opened at $133.05 on Wednesday. The stock’s fifty day moving average price is $132.19 and its 200 day moving average price is $131.45. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The company has a market cap of $231.58 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 2.54 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.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the company earned $1.14 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories’s dividend payout ratio (DPR) 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.