Sterling Capital Management LLC Sells 26,476 Shares of Abbott Laboratories $ABT

Sterling Capital Management LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 5.8% during the second quarter, Holdings Channel.com reports. The firm owned 429,982 shares of the healthcare product maker’s stock after selling 26,476 shares during the quarter. Sterling Capital Management LLC’s holdings in Abbott Laboratories were worth $58,482,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after purchasing an additional 4,755 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of Abbott Laboratories by 35.1% during the first quarter. Penserra Capital Management LLC now owns 6,129 shares of the healthcare product maker’s stock valued at $812,000 after acquiring an additional 1,594 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in Abbott Laboratories by 5.7% in the 1st quarter. Rehmann Capital Advisory Group now owns 12,427 shares of the healthcare product maker’s stock worth $1,648,000 after purchasing an additional 674 shares in the last quarter. Leavell Investment Management Inc. grew its position in Abbott Laboratories by 0.4% during the 1st quarter. Leavell Investment Management Inc. now owns 37,113 shares of the healthcare product maker’s stock worth $4,923,000 after purchasing an additional 132 shares during the last quarter. Finally, CFO4Life Group LLC raised its holdings in shares of Abbott Laboratories by 6.4% in the first quarter. CFO4Life Group LLC now owns 2,207 shares of the healthcare product maker’s stock worth $293,000 after buying an additional 132 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” 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 report on Friday, October 17th. Morgan Stanley increased their price target on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Mizuho upped their target price on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Stock Up 0.3%

ABT stock opened at $124.91 on Friday. The stock 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. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The firm has a 50-day simple moving average of $130.91 and a 200-day simple moving average of $131.43. 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 announced 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. 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 during the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The business’s revenue 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 forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio is presently 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.