Rhumbline Advisers Sells 53,460 Shares of Abbott Laboratories $ABT

Rhumbline Advisers trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.7% in the second quarter, Holdings Channel.com reports. The firm owned 3,093,462 shares of the healthcare product maker’s stock after selling 53,460 shares during the quarter. Rhumbline Advisers’ holdings in Abbott Laboratories were worth $420,743,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ABT. IMG Wealth Management Inc. increased its position in shares of Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after acquiring an additional 167 shares in the last quarter. Elequin Capital LP acquired a new position in Abbott Laboratories in the 1st quarter worth $30,000. Anfield Capital Management LLC increased its holdings in Abbott Laboratories by 81.3% during the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock worth $32,000 after purchasing an additional 104 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $33,000. Finally, Accent Capital Management LLC bought a new stake in shares of Abbott Laboratories in the first quarter valued at about $38,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Up 3.2%

ABT stock opened at $127.97 on Friday. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The business’s 50 day simple moving average is $129.95 and its 200 day simple moving average is $131.22. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $222.52 billion, a PE ratio of 16.04, a PEG ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ABT shares. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a report on Thursday. Raymond James Financial boosted their target price on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Jefferies Financial Group lifted their price objective on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Wells Fargo & Company boosted their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Barclays raised their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.00.

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.