Sendero Wealth Management LLC Sells 707 Shares of Abbott Laboratories $ABT

Sendero Wealth Management LLC reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 2.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 29,976 shares of the healthcare product maker’s stock after selling 707 shares during the period. Sendero Wealth Management LLC’s holdings in Abbott Laboratories were worth $4,077,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Valeo Financial Advisors LLC boosted its position in shares of Abbott Laboratories by 3.9% during the second quarter. Valeo Financial Advisors LLC now owns 33,558 shares of the healthcare product maker’s stock valued at $4,564,000 after buying an additional 1,260 shares during the last quarter. Joule Financial LLC bought a new position in Abbott Laboratories during the 2nd quarter valued at $675,000. Knights of Columbus Asset Advisors LLC purchased a new position in Abbott Laboratories during the 2nd quarter worth $329,000. Plimoth Trust Co. LLC grew its stake in shares of Abbott Laboratories by 1.5% in the 2nd quarter. Plimoth Trust Co. LLC now owns 26,579 shares of the healthcare product maker’s stock worth $3,615,000 after acquiring an additional 382 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its holdings in shares of Abbott Laboratories by 0.8% in the second quarter. DAVENPORT & Co LLC now owns 961,062 shares of the healthcare product maker’s stock valued at $130,392,000 after purchasing an additional 7,707 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE ABT opened at $134.49 on Monday. The company has a market cap of $234.07 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.55 and a beta of 0.69. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The firm’s 50-day simple moving average is $131.94 and its two-hundred day simple moving average is $131.39. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced 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. 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 for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the prior year, the company posted $1.14 EPS. Abbott Laboratories’s revenue was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was 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 $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABT. Evercore ISI upped their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Leerink Partners assumed coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a “market perform” rating and a $143.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a research report on Saturday, September 27th. Finally, Mizuho raised their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $145.39.

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.