Private Wealth Partners LLC Cuts Stake in Abbott Laboratories $ABT

Private Wealth Partners LLC lowered its position in shares of Abbott Laboratories (NYSE:ABT) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,924 shares of the healthcare product maker’s stock after selling 207 shares during the period. Private Wealth Partners LLC’s holdings in Abbott Laboratories were worth $2,846,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Abbott Laboratories by 0.7% during the first quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker’s stock valued at $22,527,039,000 after buying an additional 1,177,739 shares during the period. Wellington Management Group LLP boosted its position in Abbott Laboratories by 12.8% during the first 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 purchasing an additional 3,371,113 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Abbott Laboratories by 29.2% during the first 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Abbott Laboratories by 12.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock valued at $1,916,966,000 after purchasing an additional 1,639,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Abbott Laboratories by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker’s stock valued at $1,738,831,000 after purchasing an additional 168,095 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories 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 completion of the transaction, the chief financial officer directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ABT. Mizuho raised their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Daiwa Capital Markets raised their price objective on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Raymond James Financial raised their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Finally, Evercore ISI dropped their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $127.16 on Tuesday. The business’s 50 day moving average price is $132.03 and its 200 day moving average price is $131.64. The firm has a market cap of $221.31 billion, a P/E ratio of 15.93, a P/E/G ratio of 2.41 and a beta of 0.69. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.Abbott Laboratories’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders 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 yield of 1.9%. Abbott Laboratories’s payout ratio is presently 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.