Harbour Investments Inc. Trims Stake in Abbott Laboratories $ABT

Harbour Investments Inc. cut its holdings in Abbott Laboratories (NYSE:ABT) by 10.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,288 shares of the healthcare product maker’s stock after selling 2,775 shares during the period. Harbour Investments Inc.’s holdings in Abbott Laboratories were worth $3,303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its stake in shares of Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after acquiring an additional 4,755 shares during the period. GAMMA Investing LLC lifted its holdings in Abbott Laboratories by 17.0% during the first quarter. GAMMA Investing LLC now owns 38,467 shares of the healthcare product maker’s stock valued at $5,103,000 after purchasing an additional 5,590 shares in the last quarter. Hemenway Trust Co LLC boosted its position in shares of Abbott Laboratories by 4.1% in the first quarter. Hemenway Trust Co LLC now owns 372,188 shares of the healthcare product maker’s stock worth $49,371,000 after purchasing an additional 14,775 shares during the period. Cushing Capital Partners LLC purchased a new stake in shares of Abbott Laboratories in the first quarter worth $804,000. Finally, Shepherd Financial Partners LLC raised its position in shares of Abbott Laboratories by 4.5% during the 1st quarter. Shepherd Financial Partners LLC now owns 3,080 shares of the healthcare product maker’s stock valued at $408,000 after purchasing an additional 132 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABT. Mizuho increased their price target on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday. Royal Bank Of Canada boosted their price target on Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Benchmark initiated coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 target price on the stock. Finally, BTIG Research cut their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $146.17.

Abbott Laboratories Trading Down 2.9%

Shares of ABT opened at $129.35 on Thursday. The stock has a market capitalization of $225.13 billion, a PE ratio of 16.21, a P/E/G ratio of 2.53 and a beta of 0.69. The company’s fifty day moving average is $132.59 and its 200 day moving average is $131.60. 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 has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the previous year, the firm posted $1.21 EPS. The business’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. Sell-side analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business 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. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 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.