Abbott Laboratories $ABT Shares Sold by Menlo Advisors LLC

Menlo Advisors LLC trimmed its position in shares of Abbott Laboratories (NYSE:ABT) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,536 shares of the healthcare product maker’s stock after selling 1,450 shares during the period. Abbott Laboratories accounts for approximately 4.9% of Menlo Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Menlo Advisors LLC’s holdings in Abbott Laboratories were worth $9,185,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Avanza Fonder AB lifted its stake in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after buying an additional 655 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Abbott Laboratories by 12.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock valued at $91,109,000 after acquiring an additional 73,780 shares during the period. Madrona Financial Services LLC raised its holdings in Abbott Laboratories by 9.7% in the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after acquiring an additional 152 shares during the period. State of Michigan Retirement System lifted its position in Abbott Laboratories by 0.5% during the second quarter. State of Michigan Retirement System now owns 473,057 shares of the healthcare product maker’s stock worth $64,340,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Atria Investments Inc boosted its holdings in shares of Abbott Laboratories by 8.3% during the second quarter. Atria Investments Inc now owns 184,269 shares of the healthcare product maker’s stock worth $25,062,000 after acquiring an additional 14,185 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ABT shares. Raymond James Financial increased their target price on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research note on Thursday, October 16th. Sanford C. Bernstein increased their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Benchmark started coverage on Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 target price for the company. Morgan Stanley upped their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Finally, 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. Two investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Stock Up 1.1%

Shares of NYSE ABT opened at $126.28 on Friday. The stock has a market capitalization of $219.59 billion, a P/E ratio of 15.82, a PEG ratio of 2.36 and a beta of 0.68. The stock’s fifty day moving average is $130.78 and its 200 day moving average is $131.40. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. 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 posted its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. 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 business posted $1.21 earnings per share. Abbott Laboratories’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. Sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal 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 paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Abbott Laboratories Company 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.