Pittenger & Anderson Inc. Reduces Holdings in Abbott Laboratories $ABT

Pittenger & Anderson Inc. trimmed its stake in Abbott Laboratories (NYSE:ABT) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,464 shares of the healthcare product maker’s stock after selling 1,000 shares during the period. Pittenger & Anderson Inc.’s holdings in Abbott Laboratories were worth $12,848,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ABT. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at $30,000. JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at $32,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at $33,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

ABT opened at $129.49 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The stock has a market capitalization of $225.38 billion, a P/E ratio of 16.23, a P/E/G ratio of 2.44 and a beta of 0.69. The company’s 50-day simple moving average is $132.34 and its two-hundred day simple moving average is $131.57. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted 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 business had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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 paid a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ABT shares. Sanford C. Bernstein boosted their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Royal Bank Of Canada restated an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. Evercore ISI cut their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. Wells Fargo & Company increased their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Morgan Stanley increased their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.61.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

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.