Abbott Laboratories $ABT Shares Sold by Brookmont Capital Management

Brookmont Capital Management lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 3.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,080 shares of the healthcare product maker’s stock after selling 1,223 shares during the quarter. Abbott Laboratories comprises 3.0% of Brookmont Capital Management’s holdings, making the stock its 4th biggest position. Brookmont Capital Management’s holdings in Abbott Laboratories were worth $5,179,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. EWA LLC acquired a new stake in shares of Abbott Laboratories during the second quarter worth $229,000. Northstar Group Inc. lifted its holdings in shares of Abbott Laboratories by 121.8% during the second quarter. Northstar Group Inc. now owns 15,030 shares of the healthcare product maker’s stock worth $2,044,000 after buying an additional 8,255 shares in the last quarter. Warren Street Wealth Advisors LLC lifted its holdings in shares of Abbott Laboratories by 12.1% during the second quarter. Warren Street Wealth Advisors LLC now owns 2,374 shares of the healthcare product maker’s stock worth $323,000 after buying an additional 256 shares in the last quarter. Pure Financial Advisors LLC lifted its holdings in shares of Abbott Laboratories by 162.4% during the second quarter. Pure Financial Advisors LLC now owns 23,306 shares of the healthcare product maker’s stock worth $3,170,000 after buying an additional 14,423 shares in the last quarter. Finally, Woodward Diversified Capital LLC raised its stake in Abbott Laboratories by 30.5% in the second quarter. Woodward Diversified Capital LLC now owns 6,056 shares of the healthcare product maker’s stock valued at $824,000 after purchasing an additional 1,417 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the subject of a number of analyst reports. 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 note on Friday, July 18th. Wells Fargo & Company dropped their price target 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. Evercore ISI boosted their price target on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Raymond James Financial dropped their price target on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research note on Friday, July 18th. Finally, Morgan Stanley boosted their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $145.39.

Abbott Laboratories Stock Down 0.3%

Shares of NYSE ABT opened at $133.53 on Thursday. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The company has a market cap of $232.39 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.54 and a beta of 0.69. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The stock has a 50-day moving average price of $131.63 and a two-hundred day moving average price of $131.24.

Abbott Laboratories (NYSE:ABT) last issued 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 firm had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm 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, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared 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. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s payout ratio is 29.57%.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.46% of the company’s stock.

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.