Portside Wealth Group LLC Trims Position in Abbott Laboratories $ABT

Portside Wealth Group LLC reduced its holdings in Abbott Laboratories (NYSE:ABT) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,711 shares of the healthcare product maker’s stock after selling 517 shares during the period. Abbott Laboratories comprises 0.9% of Portside Wealth Group LLC’s holdings, making the stock its 21st biggest position. Portside Wealth Group LLC’s holdings in Abbott Laboratories were worth $6,081,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth about $1,658,180,000. Goldman Sachs Group Inc. boosted its stake in shares of Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after buying an additional 3,616,471 shares during the last quarter. Wellington Management Group LLP grew 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 acquiring an additional 3,371,113 shares during the period. Vanguard Group Inc. raised its position in Abbott Laboratories by 1.8% during the second quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock valued at $23,502,644,000 after acquiring an additional 2,977,715 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in Abbott Laboratories by 98.6% in the second quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock valued at $471,669,000 after acquiring an additional 1,721,523 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.2%

Shares of Abbott Laboratories stock opened at $130.29 on Tuesday. 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 twelve month low of $110.86 and a twelve month high of $141.23. The firm has a market capitalization of $226.55 billion, a PE ratio of 16.33, a P/E/G ratio of 2.36 and a beta of 0.68. The firm’s 50-day moving average price is $130.34 and its 200 day moving average price is $131.35.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting analysts’ consensus estimates of $1.30. The business had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Analyst Ratings Changes

A number of brokerages have recently commented on ABT. Evercore ISI dropped their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Daiwa Capital Markets increased their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Barclays lifted their price target on Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, Mizuho increased their price target on Abbott Laboratories from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

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.