Abbott Laboratories $ABT Shares Sold by Cushing Capital Partners LLC

Cushing Capital Partners LLC reduced its position in Abbott Laboratories (NYSE:ABT) by 6.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,695 shares of the healthcare product maker’s stock after selling 363 shares during the quarter. Cushing Capital Partners LLC’s holdings in Abbott Laboratories were worth $775,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ABT. Hughes Financial Services LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at about $27,000. Abound Financial LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at about $28,000. Elequin Capital LP purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at about $30,000. JCIC Asset Management Inc. purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at about $32,000. Finally, Vision Financial Markets LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at about $33,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ABT has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Benchmark assumed coverage on Abbott Laboratories in a research note on Friday, October 10th. They set a “buy” rating and a $145.00 target price for the company. Wells Fargo & Company decreased their target price on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Evercore ISI boosted their target price on Abbott Laboratories from $140.00 to $144.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Finally, William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Two equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.17.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $129.35 on Thursday. 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 has a twelve month low of $110.86 and a twelve month high of $141.23. The stock has a 50 day moving average of $132.59 and a two-hundred day moving average of $131.60. The stock has a market cap of $225.13 billion, a P/E ratio of 16.21, a P/E/G ratio of 2.53 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories’s payout ratio is presently 29.57%.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

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.