Mitchell Sinkler & Starr PA Sells 70,137 Shares of Abbott Laboratories $ABT

Mitchell Sinkler & Starr PA lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 75.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 22,347 shares of the healthcare product maker’s stock after selling 70,137 shares during the quarter. Abbott Laboratories makes up about 1.5% of Mitchell Sinkler & Starr PA’s holdings, making the stock its 19th biggest holding. Mitchell Sinkler & Starr PA’s holdings in Abbott Laboratories were worth $3,039,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $30,000. JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $32,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $33,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.8%

Shares of NYSE:ABT opened at $132.30 on Friday. 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 $230.26 billion, a P/E ratio of 16.58, a P/E/G ratio of 2.51 and a beta of 0.69. The stock has a 50 day moving average price of $132.54 and a 200-day moving average price of $131.60. 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 announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The business’s revenue was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given 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 1.8%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Raymond James Financial lowered their target price on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research note on Friday, July 18th. The Goldman Sachs Group increased their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Jefferies Financial Group upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Wells Fargo & Company reduced their target price on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, July 18th. Finally, Evercore ISI boosted their target price on Abbott Laboratories from $140.00 to $144.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $146.17.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.46% of the company’s stock.

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.