Abbott Laboratories $ABT Shares Sold by Corundum Group Inc.

Corundum Group Inc. lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 8,754 shares of the healthcare product maker’s stock after selling 93 shares during the period. Corundum Group Inc.’s holdings in Abbott Laboratories were worth $1,191,000 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. Hughes Financial Services LLC acquired a new stake in Abbott Laboratories during the first quarter worth approximately $27,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $28,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $30,000. JCIC Asset Management Inc. acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $32,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $134.49 on Friday. The firm has a market capitalization of $234.07 billion, a P/E ratio of 16.85, a PEG ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The company’s fifty day moving average is $131.94 and its two-hundred day moving average is $131.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting the consensus estimate 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 net margin of 32.43% and a return on equity of 18.32%. The business’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories’s payout ratio is currently 29.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ABT shares. Evercore ISI lifted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Morgan Stanley lifted their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Raymond James Financial dropped their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a research note on Friday, July 18th. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Finally, BTIG Research dropped their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $145.39.

About Abbott Laboratories

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.