Grassi Investment Management Sells 973 Shares of Abbott Laboratories $ABT

Grassi Investment Management decreased its position in Abbott Laboratories (NYSE:ABT) by 0.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 121,433 shares of the healthcare product maker’s stock after selling 973 shares during the quarter. Abbott Laboratories comprises 1.3% of Grassi Investment Management’s investment portfolio, making the stock its 19th largest holding. Grassi Investment Management’s holdings in Abbott Laboratories were worth $16,516,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ABT. Nuveen LLC bought a new position in Abbott Laboratories in the first quarter valued at approximately $1,658,180,000. Goldman Sachs Group Inc. boosted its position in shares of Abbott Laboratories by 29.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after purchasing an additional 3,616,471 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Abbott Laboratories by 12.8% during the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after buying an additional 3,371,113 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Abbott Laboratories by 12.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock worth $1,916,966,000 after buying an additional 1,639,954 shares during the last quarter. Finally, Jensen Investment Management Inc. boosted its holdings in Abbott Laboratories by 1,221.2% during the first quarter. Jensen Investment Management Inc. now owns 1,365,785 shares of the healthcare product maker’s stock worth $181,171,000 after buying an additional 1,262,407 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $6,862,453.65. The trade was a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.46% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Leerink Partnrs raised shares of Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Royal Bank Of Canada lifted their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. BTIG Research reduced their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Finally, William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.39.

Abbott Laboratories Trading Up 1.1%

ABT opened at $134.49 on Friday. The stock has a market capitalization of $234.07 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The firm’s fifty day simple moving average is $131.94 and its 200 day simple moving average is $131.33. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts’ consensus estimates of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company 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. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s payout ratio is currently 29.57%.

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.