Gemmer Asset Management LLC Sells 377 Shares of Abbott Laboratories $ABT

Gemmer Asset Management LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT) by 12.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,672 shares of the healthcare product maker’s stock after selling 377 shares during the quarter. Gemmer Asset Management LLC’s holdings in Abbott Laboratories were worth $363,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ABT. Hughes Financial Services LLC purchased a new stake in Abbott Laboratories in the first quarter worth $27,000. Abound Financial LLC purchased a new stake in Abbott Laboratories in the first quarter worth $28,000. Elequin Capital LP purchased a new stake in Abbott Laboratories in the first quarter worth $30,000. JCIC Asset Management Inc. purchased a new stake in Abbott Laboratories in the first quarter worth $32,000. Finally, Vision Financial Markets LLC purchased a new stake in Abbott Laboratories in the first quarter worth $33,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $134.49 on Friday. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The stock’s 50-day moving average is $131.94 and its 200 day moving average is $131.36. The company has a market cap of $234.07 billion, a P/E ratio of 16.85, a PEG ratio of 2.55 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 (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the company earned $1.14 earnings per share. The firm’s revenue for the quarter 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 fiscal 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 given a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 29.57%.

Insiders Place Their Bets

In related 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 transaction of $746,752.50. Following the sale, the chief financial officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. 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 note on Monday, June 16th. They issued a “market perform” rating and a $143.00 target price on the stock. Wells Fargo & Company reduced their target price on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, July 18th. Raymond James Financial dropped their price target on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a research report on Friday, July 18th. Finally, Jefferies Financial Group raised Abbott Laboratories from a “hold” rating to a “buy” rating and increased their price target for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Two investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $145.39.

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.