1900 Wealth Management LLC Cuts Stock Position in Abbott Laboratories $ABT

1900 Wealth Management LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 18.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,486 shares of the healthcare product maker’s stock after selling 803 shares during the quarter. 1900 Wealth Management LLC’s holdings in Abbott Laboratories were worth $474,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at about $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at about $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories in the first quarter valued at about $30,000. JCIC Asset Management Inc. purchased a new stake in shares of Abbott Laboratories in the first quarter valued at about $32,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at about $33,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 0.3%

Shares of ABT opened at $133.05 on Friday. The stock has a market capitalization of $231.56 billion, a PE ratio of 16.67, a P/E/G ratio of 2.53 and a beta of 0.69. Abbott Laboratories has a 1 year low of $110.86 and a 1 year 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 company’s 50-day simple moving average is $131.78 and its 200-day simple moving average is $131.28.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. The business had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $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. 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 declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABT. BTIG Research dropped their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a report on Friday, July 18th. The Goldman Sachs Group upped their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI upped their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Jefferies Financial Group raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and upped their target price for the company from $143.00 to $145.00 in a research report on Friday, July 18th. Finally, Royal Bank Of Canada upped their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.39.

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.