Avalon Trust Co Sells 468 Shares of Abbott Laboratories $ABT

Avalon Trust Co lessened its holdings in Abbott Laboratories (NYSE:ABT) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,273 shares of the healthcare product maker’s stock after selling 468 shares during the quarter. Avalon Trust Co’s holdings in Abbott Laboratories were worth $853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ABT. Brighton Jones LLC raised its holdings in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after purchasing an additional 4,755 shares during the period. PAX Financial Group LLC increased its position in Abbott Laboratories by 27.3% in the first quarter. PAX Financial Group LLC now owns 3,320 shares of the healthcare product maker’s stock worth $440,000 after buying an additional 712 shares during the last quarter. Parcion Private Wealth LLC raised its stake in shares of Abbott Laboratories by 3.4% in the first quarter. Parcion Private Wealth LLC now owns 70,491 shares of the healthcare product maker’s stock valued at $9,351,000 after buying an additional 2,304 shares during the period. Guardian Wealth Advisors LLC lifted its position in shares of Abbott Laboratories by 4.1% during the 1st quarter. Guardian Wealth Advisors LLC now owns 6,431 shares of the healthcare product maker’s stock valued at $853,000 after buying an additional 256 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Abbott Laboratories by 0.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 169,447 shares of the healthcare product maker’s stock worth $22,477,000 after acquiring an additional 1,534 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $128.83 on Thursday. The stock has a market cap of $224.02 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 2.36 and a beta of 0.68. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The business has a 50-day simple moving average of $130.50 and a 200 day simple moving average of $131.36. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results 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. 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 the consensus estimate of $11.40 billion. During the same quarter last year, the company posted $1.21 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share 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. Shareholders of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s payout ratio is currently 29.57%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Barclays upped 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. The Goldman Sachs Group boosted their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Raymond James Financial raised their price target on Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Daiwa Capital Markets lifted their price target on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

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.