Summit Place Financial Advisors LLC Decreases Position in Abbott Laboratories $ABT

Summit Place Financial Advisors LLC decreased its stake in Abbott Laboratories (NYSE:ABT) by 6.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,291 shares of the healthcare product maker’s stock after selling 657 shares during the period. Summit Place Financial Advisors LLC’s holdings in Abbott Laboratories were worth $1,400,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ABT. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the first quarter worth about $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories during the first quarter valued at approximately $28,000. Elequin Capital LP acquired a new stake in Abbott Laboratories during the first quarter valued at approximately $30,000. JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories during the first quarter valued at approximately $32,000. Finally, Vision Financial Markets LLC acquired a new stake in Abbott Laboratories during the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Morgan Stanley increased their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Leerink Partnrs raised Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Finally, Wells Fargo & Company decreased their price target on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.17.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by insiders.

Abbott Laboratories Stock Performance

ABT opened at $132.30 on Friday. The firm has a market cap of $230.26 billion, a PE ratio of 16.58, a P/E/G ratio of 2.53 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. The business has a fifty day simple moving average of $132.54 and a 200-day simple moving average of $131.56. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

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

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date 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 is presently 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.