Abbott Laboratories $ABT Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 5.7% in the second quarter, Holdings Channel.com reports. The fund owned 6,706 shares of the healthcare product maker’s stock after selling 408 shares during the period. Freedom Investment Management Inc.’s holdings in Abbott Laboratories were worth $912,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mayflower Financial Advisors LLC increased its position in Abbott Laboratories by 0.5% in the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock worth $2,298,000 after purchasing an additional 78 shares during the period. FF Advisors LLC increased its position in Abbott Laboratories by 4.3% in the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after purchasing an additional 79 shares during the period. Charles Schwab Trust Co increased its position in Abbott Laboratories by 0.6% in the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after purchasing an additional 79 shares during the period. Opes Wealth Management LLC increased its position in Abbott Laboratories by 2.9% in the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock worth $379,000 after purchasing an additional 80 shares during the period. Finally, Lcnb Corp boosted its holdings in Abbott Laboratories by 0.5% during the first quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker’s stock worth $2,111,000 after buying an additional 80 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories 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 sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company raised their target price on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. The Goldman Sachs Group raised their target price on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Benchmark assumed coverage on Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 target price on the stock. Jefferies Financial Group raised their target price on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Trading Up 0.3%

NYSE:ABT opened at $126.78 on Friday. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week 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. The stock has a market capitalization of $220.65 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 2.40 and a beta of 0.69. The business’s 50-day simple moving average is $132.09 and its 200-day simple moving average is $131.55.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the previous year, the business posted $1.21 EPS. Abbott Laboratories’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. Sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced 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 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

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.