Verity & Verity LLC Sells 676 Shares of Abbott Laboratories $ABT

Verity & Verity LLC lowered its stake in Abbott Laboratories (NYSE:ABT) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,950 shares of the healthcare product maker’s stock after selling 676 shares during the quarter. Verity & Verity LLC’s holdings in Abbott Laboratories were worth $7,882,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABT. IMG Wealth Management Inc. boosted its position in Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 167 shares in the last quarter. Elequin Capital LP bought a new position in shares of Abbott Laboratories in the 1st quarter valued at $30,000. Anfield Capital Management LLC increased its holdings in Abbott Laboratories by 81.3% in the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock worth $32,000 after purchasing an additional 104 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in shares of Abbott Laboratories during the first quarter valued at about $33,000. Finally, Accent Capital Management LLC bought a new position in Abbott Laboratories in the 1st quarter valued at approximately $38,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Up 0.6%

Shares of Abbott Laboratories stock opened at $127.92 on Tuesday. The firm has a market cap of $222.43 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 2.36 and a beta of 0.68. The stock’s 50-day moving average is $129.87 and its 200 day moving average is $131.14. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate of $1.30. The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 EPS. 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 year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is 29.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BTIG Research reiterated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a report on Thursday, November 20th. Sanford C. Bernstein upped their price target on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Barclays raised their price objective on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Jefferies Financial Group upped their target price on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Daiwa Capital Markets increased their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

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.