Carmel Capital Partners LLC Sells 271 Shares of Abbott Laboratories $ABT

Carmel Capital Partners LLC reduced its position in shares of Abbott Laboratories (NYSE:ABT) by 7.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,277 shares of the healthcare product maker’s stock after selling 271 shares during the quarter. Carmel Capital Partners LLC’s holdings in Abbott Laboratories were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings LLC raised its holdings in Abbott Laboratories by 1.0% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 949,801 shares of the healthcare product maker’s stock worth $129,182,000 after purchasing an additional 9,062 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in Abbott Laboratories by 1.4% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 109,462 shares of the healthcare product maker’s stock worth $14,888,000 after purchasing an additional 1,551 shares during the last quarter. Angeles Wealth Management LLC raised its holdings in Abbott Laboratories by 8.0% during the 2nd quarter. Angeles Wealth Management LLC now owns 10,800 shares of the healthcare product maker’s stock worth $1,469,000 after purchasing an additional 801 shares during the last quarter. Mattson Financial Services LLC raised its holdings in Abbott Laboratories by 4.5% during the 2nd quarter. Mattson Financial Services LLC now owns 26,100 shares of the healthcare product maker’s stock worth $3,550,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Smithbridge Asset Management Inc. DE increased its stake in shares of Abbott Laboratories by 1.4% in the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 40,879 shares of the healthcare product maker’s stock valued at $5,560,000 after acquiring an additional 565 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Price Performance

Shares of ABT opened at $128.69 on Friday. 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 simple moving average of $132.38 and a 200 day simple moving average of $131.54. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The firm has a market capitalization of $223.98 billion, a PE ratio of 16.13, a P/E/G ratio of 2.42 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same period in the previous year, the firm earned $1.21 EPS. Abbott Laboratories’s quarterly revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Insider Activity

In other 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 sale, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on ABT. The Goldman Sachs Group upped their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Jefferies Financial Group upped their price target on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday. Mizuho upped their price target on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 price target on shares of Abbott Laboratories in a research note on Thursday. Finally, Morgan Stanley upped 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 analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $147.61.

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.