Abbott Laboratories $ABT Shares Sold by Kanawha Capital Management LLC

by · The Markets Daily

Kanawha Capital Management LLC trimmed its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,363 shares of the healthcare product maker’s stock after selling 401 shares during the quarter. Abbott Laboratories makes up approximately 1.8% of Kanawha Capital Management LLC’s investment portfolio, making the stock its 15th largest position. Kanawha Capital Management LLC’s holdings in Abbott Laboratories were worth $24,123,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Chevy Chase Trust Holdings LLC raised its stake in shares of Abbott Laboratories by 1.0% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 949,801 shares of the healthcare product maker’s stock worth $129,182,000 after buying an additional 9,062 shares during the period. Stratos Wealth Partners LTD. raised its stake in shares of Abbott Laboratories by 1.4% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 109,462 shares of the healthcare product maker’s stock worth $14,888,000 after buying an additional 1,551 shares during the period. Angeles Wealth Management LLC raised its stake in shares of Abbott Laboratories by 8.0% during the 2nd quarter. Angeles Wealth Management LLC now owns 10,800 shares of the healthcare product maker’s stock worth $1,469,000 after buying an additional 801 shares during the period. Mattson Financial Services LLC raised its stake in shares of Abbott Laboratories by 4.5% during the 2nd quarter. Mattson Financial Services LLC now owns 26,100 shares of the healthcare product maker’s stock worth $3,550,000 after buying an additional 1,130 shares during the period. Finally, Smithbridge Asset Management Inc. DE raised its stake in shares of Abbott Laboratories by 1.4% during the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 40,879 shares of the healthcare product maker’s stock worth $5,560,000 after buying an additional 565 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Raymond James Financial boosted their price target on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays boosted their price target on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, BTIG Research reiterated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.61.

Read Our Latest Analysis on Abbott Laboratories

Abbott Laboratories Stock Up 0.8%

Shares of NYSE:ABT opened at $128.69 on Friday. 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 business has a fifty day moving average of $132.38 and a two-hundred day moving average of $131.54. The stock has a market cap of $223.98 billion, a P/E ratio of 16.13, a PEG ratio of 2.42 and a beta of 0.69. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. The company 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 firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, research 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. Shareholders of record on Wednesday, October 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Company Profile

(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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