Pettyjohn Wood & White Inc. Decreases Position in Abbott Laboratories $ABT

Pettyjohn Wood & White Inc. trimmed its stake in Abbott Laboratories (NYSE:ABT) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,571 shares of the healthcare product maker’s stock after selling 391 shares during the period. Abbott Laboratories makes up about 1.4% of Pettyjohn Wood & White Inc.’s portfolio, making the stock its 21st biggest position. Pettyjohn Wood & White Inc.’s holdings in Abbott Laboratories were worth $7,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Tortoise Investment Management LLC boosted its stake in Abbott Laboratories by 10.7% during the second quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock worth $108,000 after buying an additional 77 shares during the period. FF Advisors LLC boosted its stake in shares of Abbott Laboratories by 4.3% during the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after purchasing an additional 79 shares during the period. Charles Schwab Trust Co grew its holdings in Abbott Laboratories by 0.6% during the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock valued at $1,907,000 after purchasing an additional 79 shares during the last quarter. Bridgewater Advisors Inc. raised its position in Abbott Laboratories by 0.6% in the 2nd quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock worth $1,607,000 after purchasing an additional 79 shares during the period. Finally, Lcnb Corp lifted its stake in Abbott Laboratories by 0.5% in the first quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker’s stock worth $2,111,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ABT. Sanford C. Bernstein upped their target price on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Mizuho upped their price objective on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Wells Fargo & Company lifted their target price on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. BTIG Research restated a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a report on Thursday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 price target on shares of Abbott Laboratories in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Price Performance

ABT opened at $127.97 on Friday. The company has a market capitalization of $222.52 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 2.36 and a beta of 0.68. 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 has a 12-month low of $110.86 and a 12-month high of $141.23. The business’s fifty day simple moving average is $129.95 and its 200-day simple moving average is $131.22.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The firm’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. On average, equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th were given 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 was Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

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.