Abbott Laboratories $ABT Shares Sold by WNY Asset Management LLC

WNY Asset Management LLC decreased its position in Abbott Laboratories (NYSE:ABT) by 6.5% during the 2nd quarter, Holdings Channel reports. The fund owned 6,858 shares of the healthcare product maker’s stock after selling 474 shares during the quarter. WNY Asset Management LLC’s holdings in Abbott Laboratories were worth $933,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ABT. Nuveen LLC acquired a new stake in Abbott Laboratories during the first quarter worth approximately $1,658,180,000. Goldman Sachs Group Inc. raised its holdings 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 worth $2,120,516,000 after purchasing an additional 3,616,471 shares in the last quarter. Wellington Management Group LLP raised its holdings 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 worth $3,948,117,000 after purchasing an additional 3,371,113 shares in the last quarter. TD Asset Management Inc raised its holdings in Abbott Laboratories by 98.6% during the second quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock worth $471,669,000 after purchasing an additional 1,721,523 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings 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 worth $1,916,966,000 after purchasing an additional 1,639,954 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Raymond James Financial raised their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Barclays raised their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Morgan Stanley raised 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. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $147.00.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction 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 transaction, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $126.63 on Wednesday. The firm’s fifty day moving average price is $131.93 and its 200 day moving average price is $131.66. Abbott Laboratories has a 1-year low of $110.86 and a 1-year 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 firm has a market cap of $220.39 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last posted 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 net margin of 31.88% and a return on equity of 17.78%. The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same period last year, the firm posted $1.21 EPS. Abbott Laboratories’s quarterly revenue 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, sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed 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 is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 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.