Nova R Wealth Inc. Lowers Position in Abbott Laboratories $ABT

Nova R Wealth Inc. trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 15.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,721 shares of the healthcare product maker’s stock after selling 492 shares during the quarter. Nova R Wealth Inc.’s holdings in Abbott Laboratories were worth $370,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Abbott Laboratories by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker’s stock valued at $22,527,039,000 after purchasing an additional 1,177,739 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after buying an additional 3,371,113 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Abbott Laboratories by 29.2% during the 1st 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 during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Abbott Laboratories by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock valued at $1,916,966,000 after buying an additional 1,639,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Abbott Laboratories by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker’s stock valued at $1,738,831,000 after acquiring an additional 168,095 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT opened at $133.62 on Monday. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The stock has a market cap of $232.56 billion, a PE ratio of 16.74, a P/E/G ratio of 2.53 and a beta of 0.69. 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 50 day moving average price of $131.14 and a 200 day moving average price of $131.16.

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 analysts’ consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Equities research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories’s payout ratio is 29.57%.

Analysts Set New Price Targets

A number of research firms have weighed in on ABT. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Jefferies Financial Group upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and upped their price target for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Raymond James Financial lowered their price objective on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a report on Friday, July 18th. Wells Fargo & Company reduced their target price on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a report on Friday, July 18th. Finally, Leerink Partnrs raised Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $145.22.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were 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 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 filing with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.

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.