Brookmont Capital Management Trims Stake in Abbott Laboratories $ABT

Brookmont Capital Management cut its stake in Abbott Laboratories (NYSE:ABT) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,080 shares of the healthcare product maker’s stock after selling 1,223 shares during the period. Abbott Laboratories accounts for 3.0% of Brookmont Capital Management’s investment portfolio, making the stock its 4th largest holding. Brookmont Capital Management’s holdings in Abbott Laboratories were worth $5,179,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ABT. Nuveen LLC bought a new stake in Abbott Laboratories in the first quarter valued at approximately $1,658,180,000. Goldman Sachs Group Inc. boosted its holdings in Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock valued at $2,120,516,000 after acquiring an additional 3,616,471 shares during the last quarter. Wellington Management Group LLP lifted its stake in Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock valued at $3,948,117,000 after buying an additional 3,371,113 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Abbott Laboratories by 12.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock valued at $1,916,966,000 after buying an additional 1,639,954 shares during the period. Finally, Jensen Investment Management Inc. lifted its stake in Abbott Laboratories by 1,221.2% in the first quarter. Jensen Investment Management Inc. now owns 1,365,785 shares of the healthcare product maker’s stock valued at $181,171,000 after buying an additional 1,262,407 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ABT. Morgan Stanley boosted their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Evercore ISI boosted their price target on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. BTIG Research dropped their price target on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Leerink Partnrs raised Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Finally, William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $145.39.

Insider Buying and Selling

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 value of $746,752.50. Following the completion of the sale, the chief financial officer directly owned 51,003 shares of the company’s stock, 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 can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $133.53 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The stock’s 50 day moving average is $131.63 and its 200-day moving average is $131.24. The firm has a market capitalization of $232.39 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 2.54 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.Abbott Laboratories’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm 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. Sell-side analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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 given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend 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.