Chelsea Counsel Co. Sells 500 Shares of Abbott Laboratories $ABT

Chelsea Counsel Co. lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,311 shares of the healthcare product maker’s stock after selling 500 shares during the quarter. Abbott Laboratories makes up about 1.4% of Chelsea Counsel Co.’s portfolio, making the stock its 20th biggest position. Chelsea Counsel Co.’s holdings in Abbott Laboratories were worth $2,898,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories in the 1st quarter worth $30,000. JCIC Asset Management Inc. purchased a new position in Abbott Laboratories in the 1st quarter worth $32,000. Finally, Vision Financial Markets LLC purchased a new position in Abbott Laboratories in the 1st quarter worth $33,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 0.6%

Abbott Laboratories stock opened at $133.97 on Wednesday. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two 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. The firm has a 50 day moving average price of $131.48 and a 200 day moving average price of $131.22. The company has a market capitalization of $233.17 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting the consensus estimate of $1.26. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABT. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research note on Monday, June 16th. Royal Bank Of Canada raised their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Leerink Partners began coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a “market perform” rating and a $143.00 target price for the company. Morgan Stanley raised their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Raymond James Financial cut their price target on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $145.22.

Insiders Place Their Bets

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.46% of the company’s stock.

About Abbott Laboratories

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.