Summit Financial Strategies Inc. Has $1.11 Million Holdings in Abbott Laboratories $ABT

Summit Financial Strategies Inc. lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,173 shares of the healthcare product maker’s stock after selling 224 shares during the period. Summit Financial Strategies Inc.’s holdings in Abbott Laboratories were worth $1,112,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Consilium Wealth Advisory LLC lifted its holdings in shares of Abbott Laboratories by 2.1% during the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker’s stock worth $507,000 after purchasing an additional 78 shares during the period. Mayflower Financial Advisors LLC lifted its holdings in Abbott Laboratories by 0.5% in the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock valued at $2,298,000 after buying an additional 78 shares during the period. FF Advisors LLC lifted its holdings in Abbott Laboratories by 4.3% in the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock valued at $259,000 after buying an additional 79 shares during the period. Charles Schwab Trust Co lifted its holdings in Abbott Laboratories by 0.6% in the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after buying an additional 79 shares during the period. Finally, Opes Wealth Management LLC lifted its holdings in Abbott Laboratories by 2.9% in the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock valued at $379,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Down 0.4%

NYSE:ABT opened at $133.01 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The firm has a 50-day moving average of $131.31 and a 200-day moving average of $131.20. The company has a market cap of $231.49 billion, a PE ratio of 16.67, a PEG ratio of 2.53 and a beta of 0.69. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

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

Abbott Laboratories Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on ABT shares. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Wells Fargo & Company dropped their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. BTIG Research dropped their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, July 18th. Jefferies Financial Group upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and boosted their target price for the company from $143.00 to $145.00 in a report on Friday, July 18th. Finally, Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.22.

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.