Abbott Laboratories $ABT Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its holdings in Abbott Laboratories (NYSE:ABT) by 10.7% during the second quarter, HoldingsChannel reports. The firm owned 121,312 shares of the healthcare product maker’s stock after selling 14,590 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Abbott Laboratories were worth $16,500,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new position in Abbott Laboratories in the first quarter valued at $27,000. Abound Financial LLC purchased a new position in Abbott Laboratories during the first quarter worth about $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories during the first quarter worth about $30,000. JCIC Asset Management Inc. purchased a new position in Abbott Laboratories during the first quarter worth about $32,000. Finally, Vision Financial Markets LLC purchased a new position in Abbott Laboratories during the first quarter worth about $33,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.8%

ABT stock opened at $131.52 on Tuesday. The company’s 50 day simple moving average is $132.57 and its 200-day simple moving average is $131.60. The firm has a market capitalization of $228.90 billion, a PE ratio of 16.48, a P/E/G ratio of 2.51 and a beta of 0.69. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate 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 company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior 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. Equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

ABT has been the subject of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Morgan Stanley upped their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Wells Fargo & Company lowered their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Finally, Evercore ISI upped their target price on shares of Abbott Laboratories from $140.00 to $144.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $146.17.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on 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. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by corporate insiders.

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.