TD Private Client Wealth LLC Reduces Holdings in Abbott Laboratories $ABT

TD Private Client Wealth LLC lessened its holdings in Abbott Laboratories (NYSE:ABT) by 7.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,082 shares of the healthcare product maker’s stock after selling 3,088 shares during the period. TD Private Client Wealth LLC’s holdings in Abbott Laboratories were worth $5,316,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mather Group LLC. boosted its stake in shares of Abbott Laboratories by 16.5% during the second quarter. Mather Group LLC. now owns 25,596 shares of the healthcare product maker’s stock valued at $3,481,000 after acquiring an additional 3,623 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its stake in shares of Abbott Laboratories by 3.5% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 3,681 shares of the healthcare product maker’s stock worth $490,000 after purchasing an additional 124 shares during the period. Evanson Asset Management LLC increased its stake in Abbott Laboratories by 38.6% in the second quarter. Evanson Asset Management LLC now owns 5,564 shares of the healthcare product maker’s stock valued at $757,000 after purchasing an additional 1,550 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Abbott Laboratories by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 731,821 shares of the healthcare product maker’s stock worth $99,535,000 after buying an additional 6,930 shares during the last quarter. Finally, Lynch & Associates IN increased its stake in shares of Abbott Laboratories by 5.7% during the 2nd quarter. Lynch & Associates IN now owns 58,833 shares of the healthcare product maker’s stock valued at $8,002,000 after acquiring an additional 3,163 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business’s 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 directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Down 0.6%

Abbott Laboratories stock opened at $135.82 on Wednesday. The company’s 50-day moving average price is $130.65 and its two-hundred day moving average price is $131.15. The stock has a market cap of $236.39 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 2.59 and a beta of 0.69. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts’ consensus estimates of $1.26. The business had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend 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. Royal Bank Of Canada upped their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Raymond James Financial dropped their price target 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. Leerink Partners started coverage on Abbott Laboratories in a research note on Monday, June 16th. They set a “market perform” rating and a $143.00 price objective on the stock. Evercore ISI increased their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Finally, Jefferies Financial Group upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and upped their price target for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.22.

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.