Addenda Capital Inc. Has $8.36 Million Position in Abbott Laboratories $ABT

Addenda Capital Inc. lessened its stake in Abbott Laboratories (NYSE:ABT) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,456 shares of the healthcare product maker’s stock after selling 367 shares during the quarter. Addenda Capital Inc.’s holdings in Abbott Laboratories were worth $8,359,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth $27,000. Abound Financial LLC bought a new position in shares of Abbott Laboratories in the first quarter worth about $28,000. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $30,000. JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at approximately $32,000. Finally, Vision Financial Markets LLC acquired a new position in Abbott Laboratories during the 1st quarter worth approximately $33,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $133.62 on Friday. The business has a 50-day simple moving average of $131.14 and a 200 day simple moving average of $131.15. The firm has a market capitalization of $232.56 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 2.53 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Insider Transactions at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction on 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 directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ABT shares. Royal Bank Of Canada boosted their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Wells Fargo & Company cut their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Morgan Stanley increased their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Raymond James Financial decreased their target price on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.22.

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.