Abbott Laboratories $ABT Shares Sold by Keybank National Association OH

by · The Markets Daily

Keybank National Association OH cut its stake in Abbott Laboratories (NYSE:ABT – Free Report) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,318,355 shares of the healthcare product maker’s stock after selling 7,140 shares during the period. Abbott Laboratories accounts for 0.7% of Keybank National Association OH’s portfolio, making the stock its 29th largest position. Keybank National Association OH owned approximately 0.08% of Abbott Laboratories worth $179,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. raised its holdings in Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after acquiring an additional 167 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in Abbott Laboratories in the first quarter valued at $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories in the first quarter valued at $28,000. Elequin Capital LP bought a new stake in Abbott Laboratories during the first quarter valued at $30,000. Finally, Vision Financial Markets LLC bought a new stake in Abbott Laboratories during the first quarter valued at $33,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the subject of several recent research reports. Jefferies Financial Group boosted their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Raymond James Financial boosted their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Evercore ISI lowered their target price on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating for the company in a research note on Wednesday, October 15th. Barclays boosted their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, Benchmark initiated coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They set a “buy” rating and a $145.00 target price for the company. Two equities research 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.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Check Out Our Latest Stock Report on ABT

Abbott Laboratories Stock Down 1.7%

Abbott Laboratories stock opened at $124.42 on Thursday. The company has a 50-day simple moving average of $131.78 and a 200-day simple moving average of $131.64. The firm has a market capitalization of $216.55 billion, a P/E ratio of 15.59, a P/E/G ratio of 2.40 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT – Get Free Report) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate of $1.30. The business had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. 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. As a group, equities analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors 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 yield of 1.9%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction dated Friday, August 8th. The shares were 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 represents a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by corporate insiders.

About Abbott Laboratories

(Free Report)

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.

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