D.A. Davidson & CO. Lowers Holdings in Abbott Laboratories $ABT

D.A. Davidson & CO. decreased its holdings in Abbott Laboratories (NYSE:ABT) by 1.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 164,872 shares of the healthcare product maker’s stock after selling 1,804 shares during the period. D.A. Davidson & CO.’s holdings in Abbott Laboratories were worth $22,424,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ABT. IMG Wealth Management Inc. raised its position in Abbott Laboratories by 759.1% in the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 167 shares during the last quarter. Hughes Financial Services LLC purchased a new position in Abbott Laboratories in the 1st quarter worth about $27,000. Abound Financial LLC purchased a new position in Abbott Laboratories in the 1st quarter worth about $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories in the 1st quarter worth about $30,000. Finally, JCIC Asset Management Inc. purchased a new position in Abbott Laboratories in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $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 is available through the SEC website. 0.46% of the stock is owned by insiders.

Abbott Laboratories Trading Down 1.4%

Shares of NYSE:ABT opened at $127.68 on Wednesday. The stock has a 50 day moving average of $132.28 and a 200 day moving average of $131.54. The company has a market cap of $222.21 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 2.46 and a beta of 0.69. 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 has a 12-month low of $110.86 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. The company had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, equities research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid 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%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ABT. Daiwa Capital Markets boosted their target price on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research report on Tuesday. Raymond James Financial boosted their price target on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group boosted their price target on Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories 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.