L & S Advisors Inc Sells 51,016 Shares of Abbott Laboratories $ABT

L & S Advisors Inc lessened its stake in Abbott Laboratories (NYSE:ABT) by 73.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 18,091 shares of the healthcare product maker’s stock after selling 51,016 shares during the quarter. L & S Advisors Inc’s holdings in Abbott Laboratories were worth $2,461,000 as of its most recent SEC filing.

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

Abbott Laboratories Trading Up 0.3%

ABT opened at $129.16 on Friday. The company has a market cap of $224.59 billion, a P/E ratio of 16.19, a PEG ratio of 2.36 and a beta of 0.68. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $130.42 and its 200-day moving average is $131.34. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its earnings results 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 quarter last year, the business posted $1.21 earnings per share. The company’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. Equities research analysts predict 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. Stockholders of record on Wednesday, October 15th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Analyst Ratings Changes

Several equities analysts have recently commented on ABT shares. Wells Fargo & Company upped their target price on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Evercore ISI decreased their price target on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. BTIG Research reissued a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a report on Wednesday, October 15th. Benchmark started coverage on Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 target price for the company. Finally, Barclays upped their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $147.00.

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.