Phoenix Wealth Advisors Sells 99 Shares of Abbott Laboratories $ABT

Phoenix Wealth Advisors lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,804 shares of the healthcare product maker’s stock after selling 99 shares during the quarter. Phoenix Wealth Advisors’ holdings in Abbott Laboratories were worth $239,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new stake in Abbott Laboratories in the 1st quarter worth approximately $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories in the 1st quarter worth approximately $28,000. Elequin Capital LP acquired a new stake in Abbott Laboratories in the 1st quarter worth approximately $30,000. JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories in the 1st quarter worth approximately $32,000. Finally, Vision Financial Markets LLC acquired a new stake in Abbott Laboratories in the 1st quarter worth approximately $33,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

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 value of $746,752.50. Following the completion of the transaction, the chief financial officer 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 SEC, which is available at this link. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Trading Up 0.3%

Abbott Laboratories stock opened at $132.4120 on Friday. The business has a 50 day moving average price of $131.08 and a two-hundred day moving average price of $131.29. 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 stock has a market cap of $230.46 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 2.50 and a beta of 0.70. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. The firm had revenue of $11.14 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm 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 forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories’s dividend payout ratio is 29.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ABT shares. Raymond James Financial reduced their target price on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a report on Friday, July 18th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Wells Fargo & Company decreased their target price 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. Mizuho increased their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Finally, Jefferies Financial Group upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and increased their target price for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price 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.