Studio Investment Management LLC Lowers Holdings in Abbott Laboratories $ABT

Studio Investment Management LLC cut its position in Abbott Laboratories (NYSE:ABT) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,637 shares of the healthcare product maker’s stock after selling 238 shares during the quarter. Studio Investment Management LLC’s holdings in Abbott Laboratories were worth $631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ABT. Brighton Jones LLC lifted its stake in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after purchasing an additional 4,755 shares in the last quarter. GAMMA Investing LLC lifted its stake in Abbott Laboratories by 17.0% in the 1st quarter. GAMMA Investing LLC now owns 38,467 shares of the healthcare product maker’s stock worth $5,103,000 after purchasing an additional 5,590 shares in the last quarter. Advisor Resource Council bought a new stake in Abbott Laboratories during the first quarter valued at approximately $334,000. Valmark Advisers Inc. lifted its position in Abbott Laboratories by 6.6% during the first quarter. Valmark Advisers Inc. now owns 17,093 shares of the healthcare product maker’s stock valued at $2,267,000 after purchasing an additional 1,061 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Abbott Laboratories by 4.7% during the first quarter. Asset Management One Co. Ltd. now owns 818,644 shares of the healthcare product maker’s stock valued at $108,593,000 after purchasing an additional 37,033 shares during the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Trading Down 1.4%

ABT stock opened at $127.68 on Wednesday. The company has a market capitalization of $222.21 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 2.46 and a beta of 0.69. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The company’s 50 day moving average price is $132.28 and its two-hundred day moving average price is $131.54. 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 (NYSE:ABT) last issued its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, analysts predict 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. Investors of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Benchmark assumed coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 target price for the company. Jefferies Financial Group lifted their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Barclays lifted their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $147.00.

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.