Sustainable Insight Capital Management LLC Sells 26,252 Shares of Abbott Laboratories $ABT

Sustainable Insight Capital Management LLC cut its holdings in Abbott Laboratories (NYSE:ABT) by 47.0% during the second quarter, Holdings Channel reports. The institutional investor owned 29,633 shares of the healthcare product maker’s stock after selling 26,252 shares during the quarter. Abbott Laboratories makes up approximately 1.8% of Sustainable Insight Capital Management LLC’s investment portfolio, making the stock its 19th biggest position. Sustainable Insight Capital Management LLC’s holdings in Abbott Laboratories were worth $4,030,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ABT. IMG Wealth Management Inc. lifted its stake in shares of Abbott Laboratories by 759.1% in the second 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 in the last quarter. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories in the first quarter worth approximately $27,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth $30,000. Vision Financial Markets LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at about $33,000. Finally, Accent Capital Management LLC bought a new position in shares of Abbott Laboratories in the first quarter worth approximately $38,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ABT shares. Benchmark assumed coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Morgan Stanley upped their target price on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 15th. Mizuho boosted their price objective on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Finally, Jefferies Financial Group lifted their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Price Performance

NYSE:ABT opened at $124.91 on Friday. The firm’s fifty day moving average is $130.91 and its two-hundred day moving average is $131.43. 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 firm has a market cap of $217.20 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

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

Abbott Laboratories Dividend Announcement

The company 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. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

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.