Field & Main Bank Cuts Position in Abbott Laboratories $ABT

Field & Main Bank lowered its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,380 shares of the healthcare product maker’s stock after selling 275 shares during the quarter. Field & Main Bank’s holdings in Abbott Laboratories were worth $1,412,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABT. Vanguard Group Inc. lifted its holdings in Abbott Laboratories by 0.7% during the first quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker’s stock valued at $22,527,039,000 after purchasing an additional 1,177,739 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after purchasing an additional 3,371,113 shares during the period. Goldman Sachs Group Inc. raised its stake in Abbott Laboratories by 29.2% during the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after purchasing an additional 3,616,471 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Abbott Laboratories by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock worth $1,916,966,000 after buying an additional 1,639,954 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Abbott Laboratories by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker’s stock valued at $1,738,831,000 after buying an additional 168,095 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $124.42 on Thursday. The business has a 50-day simple moving average of $131.78 and a 200-day simple moving average of $131.64. The company has a market cap of $216.55 billion, a PE ratio of 15.59, a P/E/G ratio of 2.40 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 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 posted its quarterly 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 during the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the previous year, the business posted $1.21 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Insider Activity at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ABT shares. Jefferies Financial Group raised their target price on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Barclays upped their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Finally, Morgan Stanley raised their price objective on shares of 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, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories 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.