Abbott Laboratories $ABT Shares Sold by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A reduced its holdings in Abbott Laboratories (NYSE:ABT) by 34.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,727 shares of the healthcare product maker’s stock after selling 1,428 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Abbott Laboratories were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ABT. Nuveen LLC acquired a new position in Abbott Laboratories in the first quarter valued at $1,658,180,000. Goldman Sachs Group Inc. increased 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 acquiring an additional 3,616,471 shares during the last quarter. Wellington Management Group LLP increased its stake in Abbott Laboratories by 12.8% during the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after acquiring an additional 3,371,113 shares during the last quarter. TD Asset Management Inc increased its stake in Abbott Laboratories by 98.6% during the second quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock worth $471,669,000 after acquiring an additional 1,721,523 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Abbott Laboratories by 12.8% during the first 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 acquiring an additional 1,639,954 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Up 0.2%

Shares of ABT opened at $127.83 on Thursday. The company has a market capitalization of $222.48 billion, a P/E ratio of 16.02, a P/E/G ratio of 2.42 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. The stock has a 50-day moving average price of $132.25 and a 200 day moving average price of $131.52.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.Abbott Laboratories’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side 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. Stockholders of record on Wednesday, October 15th will be 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 is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Analysts Set New Price Targets

ABT has been the subject of several research analyst reports. Evercore ISI dropped their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research note on Wednesday, October 15th. The Goldman Sachs Group upped their price target on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Daiwa Capital Markets upped their target price on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday. BTIG Research reaffirmed a “buy” rating and issued a $145.00 target price on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Finally, Morgan Stanley upped their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Two investment 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Insider Buying and Selling 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 stock was sold at an average price of $134.55, for a total value 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 transaction 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 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.