Abbott Laboratories $ABT Shares Sold by PAX Financial Group LLC

PAX Financial Group LLC reduced its holdings in Abbott Laboratories (NYSE:ABT) by 24.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,501 shares of the healthcare product maker’s stock after selling 819 shares during the quarter. PAX Financial Group LLC’s holdings in Abbott Laboratories were worth $340,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Midwest Professional Planners LTD. increased its holdings in shares of Abbott Laboratories by 50.0% during the second quarter. Midwest Professional Planners LTD. now owns 15,040 shares of the healthcare product maker’s stock valued at $2,046,000 after purchasing an additional 5,010 shares during the period. Raiffeisen Bank International AG grew its position in Abbott Laboratories by 22.8% in the 2nd quarter. Raiffeisen Bank International AG now owns 327,419 shares of the healthcare product maker’s stock valued at $44,987,000 after buying an additional 60,735 shares in the last quarter. Westpac Banking Corp increased its stake in Abbott Laboratories by 113.9% during the 2nd quarter. Westpac Banking Corp now owns 27,842 shares of the healthcare product maker’s stock valued at $3,787,000 after buying an additional 14,826 shares during the period. Western Wealth Management LLC raised its position in shares of Abbott Laboratories by 1.7% during the 2nd quarter. Western Wealth Management LLC now owns 13,490 shares of the healthcare product maker’s stock worth $1,835,000 after buying an additional 229 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its stake in shares of Abbott Laboratories by 57.9% in the 2nd quarter. Bell Investment Advisors Inc now owns 2,764 shares of the healthcare product maker’s stock worth $376,000 after acquiring an additional 1,013 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

ABT opened at $130.29 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The firm has a market cap of $226.55 billion, a PE ratio of 16.33, a P/E/G ratio of 2.36 and a beta of 0.68. The business has a fifty day simple moving average of $130.34 and a 200-day simple moving average of $131.35. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. The business 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 was up 6.9% compared to the same quarter last year. During the same period 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. As a group, equities analysts predict 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 was paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Evercore ISI lowered their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. Raymond James Financial boosted their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Wells Fargo & Company raised their target price on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

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.