S&T Bank PA Sells 594 Shares of Abbott Laboratories $ABT

S&T Bank PA cut its stake in Abbott Laboratories (NYSE:ABT) by 6.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,676 shares of the healthcare product maker’s stock after selling 594 shares during the quarter. S&T Bank PA’s holdings in Abbott Laboratories were worth $1,180,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ABT. IMG Wealth Management Inc. grew its holdings in Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 167 shares during the last quarter. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories during the first quarter valued at approximately $27,000. Elequin Capital LP bought a new position in shares of Abbott Laboratories during the first quarter valued at approximately $30,000. Vision Financial Markets LLC purchased a new stake in shares of Abbott Laboratories in the first quarter worth approximately $33,000. Finally, Accent Capital Management LLC purchased a new position in Abbott Laboratories during the 1st quarter valued at $38,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ABT. Mizuho boosted their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Royal Bank Of Canada reissued an “outperform” rating and issued a $147.00 price objective on shares of Abbott Laboratories 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. Sanford C. Bernstein boosted their price target on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Raymond James Financial raised their price objective on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. 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 presently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Trading Up 0.3%

Shares of NYSE:ABT opened at $124.91 on Friday. The firm has a market capitalization of $217.20 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.36 and a beta of 0.68. 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 business’s 50-day moving average is $130.91 and its 200 day moving average is $131.43. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

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

Abbott Laboratories Dividend Announcement

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. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. Abbott Laboratories’s dividend payout ratio 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.