Octavia Wealth Advisors LLC Decreases Position in Abbott Laboratories $ABT

Octavia Wealth Advisors LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 19.2% during the second quarter, Holdings Channel reports. The firm owned 2,914 shares of the healthcare product maker’s stock after selling 694 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Abbott Laboratories were worth $396,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Plancorp LLC boosted its position in Abbott Laboratories by 1.6% during the second quarter. Plancorp LLC now owns 21,661 shares of the healthcare product maker’s stock worth $2,946,000 after purchasing an additional 343 shares in the last quarter. Motive Wealth Advisors purchased a new position in Abbott Laboratories during the second quarter worth $230,000. Castleview Partners LLC increased its position in Abbott Laboratories by 2.8% during the second quarter. Castleview Partners LLC now owns 4,611 shares of the healthcare product maker’s stock worth $627,000 after buying an additional 124 shares in the last quarter. Retirement Guys Formula LLC increased its position in Abbott Laboratories by 10.8% during the second quarter. Retirement Guys Formula LLC now owns 7,832 shares of the healthcare product maker’s stock worth $1,065,000 after buying an additional 763 shares in the last quarter. Finally, LeConte Wealth Management LLC purchased a new position in Abbott Laboratories during the second quarter worth $205,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on ABT shares. BTIG Research dropped their price target on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Mizuho lifted their price target on Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Jefferies Financial Group upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and lifted their price target for the company from $143.00 to $145.00 in a report on Friday, July 18th. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Finally, Raymond James Financial lowered their price target on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.22.

Insider Activity at Abbott Laboratories

In other 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 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 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 can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Down 1.5%

NYSE:ABT opened at $133.80 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The stock has a market cap of $232.87 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 2.58 and a beta of 0.69. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The business’s 50-day simple moving average is $130.69 and its 200 day simple moving average is $131.17.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data 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 firm 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%.Abbott Laboratories’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $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 predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business 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 dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories’s dividend payout ratio is 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.