1832 Asset Management L.P. Boosts Holdings in Abbott Laboratories $ABT

Key Points

• 1832 Asset Management L.P. increased its holdings in Abbott Laboratories by 54.2% in the first quarter, owning 386,417 shares valued at approximately $51.26 million.
• Abbott Laboratories reported their quarterly earnings, meeting analysts' consensus EPS estimates of $1.26 and achieving 7.4% year-over-year revenue growth.
• The company's recent quarterly dividend of $0.59 per share indicates a dividend yield of 1.8%, with a payout ratio standing at 29.57%.

1832 Asset Management L.P. lifted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 54.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 386,417 shares of the healthcare product maker's stock after purchasing an additional 135,898 shares during the quarter. 1832 Asset Management L.P.'s holdings in Abbott Laboratories were worth $51,258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC lifted its holdings in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after purchasing an additional 4,755 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after purchasing an additional 2,774 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Abbott Laboratories by 3.7% in the 4th quarter. Integrated Wealth Concepts LLC now owns 36,987 shares of the healthcare product maker's stock valued at $4,184,000 after purchasing an additional 1,330 shares in the last quarter. Topsail Wealth Management LLC purchased a new position in Abbott Laboratories in the 4th quarter valued at about $357,000. Finally, Kovitz Investment Group Partners LLC lifted its holdings in Abbott Laboratories by 287.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 970,705 shares of the healthcare product maker's stock valued at $109,797,000 after purchasing an additional 720,451 shares in the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ABT. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Raymond James Financial cut their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a report on Friday, July 18th. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and increased their price objective for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Wells Fargo & Company cut their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Finally, BTIG Research cut their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $144.47.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Trading Down 0.1%

NYSE ABT traded down $0.20 during mid-day trading on Wednesday, hitting $131.39. The company's stock had a trading volume of 4,757,752 shares, compared to its average volume of 6,771,547. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The stock's fifty day simple moving average is $131.03 and its two-hundred day simple moving average is $131.33. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The firm has a market capitalization of $228.68 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 2.50 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the firm posted $1.14 earnings per share. Abbott Laboratories's revenue for the quarter was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 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 was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories's dividend payout ratio (DPR) is 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.