ProShare Advisors LLC Sells 102,540 Shares of Abbott Laboratories $ABT

ProShare Advisors LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 6.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,532,604 shares of the healthcare product maker’s stock after selling 102,540 shares during the period. ProShare Advisors LLC’s holdings in Abbott Laboratories were worth $208,449,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avanza Fonder AB grew its stake in Abbott Laboratories by 0.4% in the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after purchasing an additional 655 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Abbott Laboratories by 12.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock worth $91,109,000 after acquiring an additional 73,780 shares in the last quarter. Madrona Financial Services LLC lifted its position in Abbott Laboratories by 9.7% during the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after acquiring an additional 152 shares during the last quarter. State of Michigan Retirement System boosted its stake in Abbott Laboratories by 0.5% in the second quarter. State of Michigan Retirement System now owns 473,057 shares of the healthcare product maker’s stock valued at $64,340,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Atria Investments Inc grew its holdings in Abbott Laboratories by 8.3% in the second quarter. Atria Investments Inc now owns 184,269 shares of the healthcare product maker’s stock worth $25,062,000 after purchasing an additional 14,185 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ABT shares. Morgan Stanley raised their price objective 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. Daiwa Capital Markets raised their price target on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Wells Fargo & Company boosted their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Evercore ISI reduced their target price 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. Two equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Trading Up 1.1%

ABT opened at $126.28 on Monday. 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’s 50 day simple moving average is $130.78 and its two-hundred day simple moving average is $131.41. The firm has a market capitalization of $219.59 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The company had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. The firm’s revenue for the quarter 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. Analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

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.