Cadence Bank Sells 410 Shares of Abbott Laboratories $ABT

Cadence Bank cut its holdings in Abbott Laboratories (NYSE:ABT) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,286 shares of the healthcare product maker’s stock after selling 410 shares during the period. Cadence Bank’s holdings in Abbott Laboratories were worth $5,079,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of 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 valued at $22,527,039,000 after buying an additional 1,177,739 shares during the period. Wellington Management Group LLP boosted 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 acquiring an additional 3,371,113 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Abbott Laboratories by 10.3% in the fourth quarter. Northern Trust Corp now owns 22,056,860 shares of the healthcare product maker’s stock worth $2,494,851,000 after buying an additional 2,060,650 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Abbott Laboratories by 29.2% in 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 buying an additional 3,616,471 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Abbott Laboratories by 12.8% in 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 buying an additional 1,639,954 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Performance

ABT opened at $132.4120 on Friday. The stock has a market capitalization of $230.46 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 2.50 and a beta of 0.70. The company has a fifty day moving average of $131.08 and a 200 day moving average of $131.29. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. The company had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. Abbott Laboratories’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the company posted $1.14 earnings per share. 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, sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were 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 of this dividend was Tuesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Mizuho increased their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Jefferies Financial Group raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and increased their price objective for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Wells Fargo & Company reduced their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. BTIG Research reduced their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Finally, Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $144.47.

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.