Connors Investor Services Inc. Sells 3,995 Shares of Abbott Laboratories $ABT

Connors Investor Services Inc. lowered its stake in Abbott Laboratories (NYSE:ABT) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,622 shares of the healthcare product maker’s stock after selling 3,995 shares during the period. Abbott Laboratories accounts for approximately 1.8% of Connors Investor Services Inc.’s holdings, making the stock its 12th biggest holding. Connors Investor Services Inc.’s holdings in Abbott Laboratories were worth $20,622,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Abbott Laboratories by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker’s stock valued at $22,527,039,000 after buying an additional 1,177,739 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Abbott Laboratories by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after purchasing an additional 3,371,113 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Abbott Laboratories by 29.2% in the 1st 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 last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Abbott Laboratories by 12.8% in 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 purchasing 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% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker’s stock worth $1,738,831,000 after purchasing an additional 168,095 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of recent analyst reports. Benchmark initiated coverage on Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 target price for the company. Jefferies Financial Group boosted their target price on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. Two 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Trading Up 0.2%

ABT stock opened at $127.83 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The company has a market capitalization of $222.48 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 2.42 and a beta of 0.69. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The business has a 50 day simple moving average of $132.25 and a two-hundred day simple moving average of $131.52.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the company earned $1.21 EPS. The company’s quarterly revenue 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. Research analysts anticipate 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. Investors of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Abbott Laboratories Company 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.