WNY Asset Management LLC Reduces Stock Holdings in Abbott Laboratories $ABT

WNY Asset Management LLC lowered its position in Abbott Laboratories (NYSE:ABT) by 6.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,858 shares of the healthcare product maker’s stock after selling 474 shares during the quarter. WNY Asset Management LLC’s holdings in Abbott Laboratories were worth $933,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Whalen Wealth Management Inc. purchased a new stake in shares of Abbott Laboratories in the second quarter valued at about $469,000. Wealth Management Associates Inc. grew its holdings in shares of Abbott Laboratories by 9.6% in the second quarter. Wealth Management Associates Inc. now owns 3,757 shares of the healthcare product maker’s stock valued at $511,000 after purchasing an additional 330 shares during the period. Quaker Wealth Management LLC grew its holdings in shares of Abbott Laboratories by 273.0% in the second quarter. Quaker Wealth Management LLC now owns 962 shares of the healthcare product maker’s stock valued at $131,000 after purchasing an additional 1,518 shares during the period. Jennison Associates LLC grew its holdings in shares of Abbott Laboratories by 42.9% in the second quarter. Jennison Associates LLC now owns 2,667,555 shares of the healthcare product maker’s stock valued at $362,814,000 after purchasing an additional 801,164 shares during the period. Finally, Austin Private Wealth LLC grew its holdings in shares of Abbott Laboratories by 11.5% in the second quarter. Austin Private Wealth LLC now owns 2,488 shares of the healthcare product maker’s stock valued at $338,000 after purchasing an additional 257 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ABT shares. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Mizuho increased their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Jefferies Financial Group increased their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Evercore ISI lowered their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research note on Wednesday, October 15th. Finally, Daiwa Capital Markets increased their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $147.00.

Insider Activity at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s 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 owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents 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. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Down 0.4%

NYSE ABT opened at $126.63 on Wednesday. The firm has a 50 day simple moving average of $131.93 and a 200-day simple moving average of $131.66. 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 $220.39 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 2.41 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same quarter last year, the firm posted $1.21 earnings per share. The business’s revenue for the quarter 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. Equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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 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 dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

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.