Abbott Laboratories $ABT Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lowered its stake in Abbott Laboratories (NYSE:ABT) by 25.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 60,667 shares of the healthcare product maker’s stock after selling 21,234 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Abbott Laboratories were worth $8,251,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth $28,000. Elequin Capital LP acquired a new stake in Abbott Laboratories during the 1st quarter worth $30,000. JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories during the 1st quarter worth $32,000. Finally, Vision Financial Markets LLC acquired a new stake in Abbott Laboratories during the 1st quarter worth $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ABT. Evercore ISI lifted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Morgan Stanley lifted their price target on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Mizuho lifted their price target on Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Royal Bank Of Canada lifted their price target on Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Finally, Raymond James Financial reduced their price target on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.39.

Abbott Laboratories Stock Down 0.3%

Shares of ABT opened at $133.53 on Thursday. The firm has a market cap of $232.39 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The company’s 50-day moving average price is $131.63 and its 200 day moving average price is $131.24. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26. The firm had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. Abbott Laboratories’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. 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, sell-side analysts forecast 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 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 payout ratio is 29.57%.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories 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 directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Company 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.