Abbott Laboratories $ABT Stock Position Reduced by Coerente Capital Management

Coerente Capital Management cut its position in shares of Abbott Laboratories (NYSE:ABT) by 0.9% during the second quarter, Holdings Channel.com reports. The firm owned 219,884 shares of the healthcare product maker’s stock after selling 1,893 shares during the quarter. Abbott Laboratories makes up approximately 5.5% of Coerente Capital Management’s portfolio, making the stock its 4th biggest position. Coerente Capital Management’s holdings in Abbott Laboratories were worth $29,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Horizon Bancorp Inc. IN raised its stake in Abbott Laboratories by 58.1% during the second quarter. Horizon Bancorp Inc. IN now owns 5,739 shares of the healthcare product maker’s stock worth $781,000 after purchasing an additional 2,110 shares during the period. Ramirez Asset Management Inc. raised its stake in shares of Abbott Laboratories by 102.7% in the 2nd quarter. Ramirez Asset Management Inc. now owns 21,049 shares of the healthcare product maker’s stock valued at $2,863,000 after acquiring an additional 10,667 shares during the period. IFP Advisors Inc raised its stake in shares of Abbott Laboratories by 7.1% in the 2nd quarter. IFP Advisors Inc now owns 18,721 shares of the healthcare product maker’s stock valued at $2,571,000 after acquiring an additional 1,233 shares during the period. Baldwin Wealth Partners LLC MA raised its stake in shares of Abbott Laboratories by 5.4% in the 2nd quarter. Baldwin Wealth Partners LLC MA now owns 7,211 shares of the healthcare product maker’s stock valued at $981,000 after acquiring an additional 372 shares during the period. Finally, Callan Family Office LLC raised its stake in shares of Abbott Laboratories by 67.8% in the 2nd quarter. Callan Family Office LLC now owns 98,163 shares of the healthcare product maker’s stock valued at $13,351,000 after acquiring an additional 39,649 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Down 0.8%

NYSE ABT opened at $133.24 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The stock has a market capitalization of $231.90 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 2.55 and a beta of 0.69. The firm has a 50 day moving average of $132.44 and a two-hundred day moving average of $131.52.

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. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter in the previous year, the business posted $1.14 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date 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 presently 29.57%.

Analysts Set New Price Targets

ABT has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Mizuho boosted their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Wells Fargo & Company reduced their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research note 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 stock a “buy” rating in a research note on Wednesday, October 1st. Finally, BTIG Research cut their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.24.

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.