Bay Colony Advisory Group Inc d b a Bay Colony Advisors Sells 9,537 Shares of Abbott Laboratories $ABT

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lessened its position in shares of Abbott Laboratories (NYSE:ABT) by 51.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 8,935 shares of the healthcare product maker’s stock after selling 9,537 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Abbott Laboratories were worth $1,215,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. AMG National Trust Bank raised its stake in Abbott Laboratories by 0.8% during the second quarter. AMG National Trust Bank now owns 31,767 shares of the healthcare product maker’s stock worth $4,321,000 after buying an additional 238 shares during the last quarter. Earned Wealth Advisors LLC raised its stake in Abbott Laboratories by 20.0% during the second quarter. Earned Wealth Advisors LLC now owns 4,987 shares of the healthcare product maker’s stock worth $678,000 after buying an additional 830 shares during the last quarter. IFG Advisory LLC raised its stake in Abbott Laboratories by 5.7% during the second quarter. IFG Advisory LLC now owns 34,987 shares of the healthcare product maker’s stock worth $4,759,000 after buying an additional 1,891 shares during the last quarter. FWG Investments LLC. bought a new position in Abbott Laboratories during the second quarter worth $203,000. Finally, Putney Financial Group LLC boosted its holdings in shares of Abbott Laboratories by 14.9% during the 2nd quarter. Putney Financial Group LLC now owns 649 shares of the healthcare product maker’s stock worth $88,000 after buying an additional 84 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the 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 sale, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ABT. Sanford C. Bernstein increased their price target on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Barclays lifted their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. BTIG Research reaffirmed a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a research note on Wednesday, October 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Abbott Laboratories in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given 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 Stock Up 0.2%

Shares of NYSE ABT opened at $124.62 on Friday. The stock has a market capitalization of $216.89 billion, a P/E ratio of 15.62, a P/E/G ratio of 2.36 and a beta of 0.69. The company has a 50-day moving average price of $131.63 and a 200-day moving average price of $131.59. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. 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 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 firm had revenue of $11.37 billion during 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 was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is presently 29.57%.

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.