Allied Investment Advisors LLC Decreases Stake in Abbott Laboratories $ABT

Allied Investment Advisors LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 89,648 shares of the healthcare product maker’s stock after selling 422 shares during the period. Abbott Laboratories makes up about 2.1% of Allied Investment Advisors LLC’s holdings, making the stock its 19th largest position. Allied Investment Advisors LLC’s holdings in Abbott Laboratories were worth $12,193,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth $1,658,180,000. Goldman Sachs Group Inc. raised its stake in Abbott Laboratories by 29.2% in the 1st 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 purchasing an additional 3,616,471 shares during the last quarter. Wellington Management Group LLP grew its holdings in Abbott Laboratories by 12.8% in the 1st 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. TD Asset Management Inc grew its holdings in Abbott Laboratories by 98.6% in the 2nd quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock valued at $471,669,000 after buying an additional 1,721,523 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Abbott Laboratories by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock worth $1,916,966,000 after purchasing an additional 1,639,954 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ABT. Evercore ISI decreased their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Barclays upped their target price on Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Morgan Stanley upped their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Wells Fargo & Company upped their price target on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 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, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories has a consensus 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 1 year low of $110.86 and a 1 year high of $141.23. The stock has a market cap of $220.65 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 2.40 and a beta of 0.69. The business has a fifty day moving average of $132.09 and a 200-day moving average of $131.55. 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 released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.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 prior year, the business posted $1.21 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current 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 paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

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.