Folger Nolan Fleming Douglas Capital Management Inc. Decreases Stake in Abbott Laboratories $ABT

Folger Nolan Fleming Douglas Capital Management Inc. reduced its position in Abbott Laboratories (NYSE:ABT) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,796 shares of the healthcare product maker’s stock after selling 656 shares during the period. Abbott Laboratories accounts for about 1.4% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 18th biggest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Abbott Laboratories were worth $13,029,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the first quarter worth about $27,000. Abound Financial LLC purchased a new stake in Abbott Laboratories during the first quarter valued at approximately $28,000. Elequin Capital LP purchased a new stake in Abbott Laboratories during the first quarter valued at approximately $30,000. JCIC Asset Management Inc. purchased a new stake in Abbott Laboratories during the first quarter valued at approximately $32,000. Finally, Vision Financial Markets LLC purchased a new stake in Abbott Laboratories during the first quarter valued at approximately $33,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 0.8%

Shares of NYSE:ABT opened at $132.30 on Friday. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The stock has a market cap of $230.26 billion, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 2.53 and a beta of 0.69. The business’s 50 day moving average is $132.54 and its 200 day moving average is $131.56. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 analysts’ expectations of $11.01 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. Abbott Laboratories’s revenue 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. Sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABT. Evercore ISI upped their price objective on Abbott Laboratories from $140.00 to $144.00 and gave the company an “outperform” rating in a research report on Tuesday. Leerink Partners began coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 price objective on the stock. BTIG Research decreased their price objective on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Mizuho increased their price target on Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group increased their price target on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $146.17.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction 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 sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by company insiders.

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.