Abbott Laboratories $ABT Shares Sold by Corundum Group Inc.

Corundum Group Inc. trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 1.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,754 shares of the healthcare product maker’s stock after selling 93 shares during the period. Corundum Group Inc.’s holdings in Abbott Laboratories were worth $1,191,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ABT. Kelly Financial Services LLC acquired a new stake in Abbott Laboratories during the first quarter worth about $216,000. Edge Financial Advisors LLC increased its position in Abbott Laboratories by 3.3% during the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker’s stock worth $336,000 after purchasing an additional 81 shares during the last quarter. Avanza Fonder AB increased its position in Abbott Laboratories by 0.4% during the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after purchasing an additional 655 shares during the last quarter. Madrona Financial Services LLC increased its position in Abbott Laboratories by 9.7% during the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock worth $235,000 after purchasing an additional 152 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Abbott Laboratories by 12.4% during the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock worth $91,109,000 after purchasing an additional 73,780 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories 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 transaction, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Trading Up 1.1%

NYSE ABT opened at $134.49 on Friday. The firm has a 50 day simple moving average of $131.94 and a 200-day simple moving average of $131.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The firm has a market cap of $234.07 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.52 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the firm posted $1.14 earnings per share. The business’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 anticipate that Abbott Laboratories will post 5.14 EPS 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. Investors of record on Wednesday, October 15th will be paid a $0.59 dividend. The ex-dividend date 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 currently 29.57%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ABT shares. Wells Fargo & Company cut their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a research report on Friday, July 18th. Jefferies Financial Group raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and increased their target price for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Leerink Partners initiated coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a “market perform” rating and a $143.00 target price for the company. Finally, Mizuho increased their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.39.

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.