20,874 Shares in Abbott Laboratories $ABT Acquired by SCS Capital Management LLC

Key Points

• SCS Capital Management LLC has acquired a new position in Abbott Laboratories, purchasing 20,874 shares valued at approximately $2.77 million.
• Other hedge funds, including Woodline Partners LP and Zurich Insurance Group Ltd FI, have significantly increased their holdings in Abbott, reflecting a growing institutional interest.
• The company reported a quarterly EPS of $1.26, meeting analyst estimates, and announced a $0.59 quarterly dividend with a yield of 1.8%.

SCS Capital Management LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 20,874 shares of the healthcare product maker's stock, valued at approximately $2,769,000.

Other large investors also recently bought and sold shares of the company. Hughes Financial Services LLC purchased a new position in Abbott Laboratories during the 1st quarter worth $27,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth $28,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories during the 1st quarter worth $30,000. JCIC Asset Management Inc. acquired a new position in shares of Abbott Laboratories during the 1st quarter worth $32,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Trading Up 1.0%

Shares of Abbott Laboratories stock traded up $1.27 during mid-day trading on Friday, hitting $133.92. 5,700,290 shares of the stock were exchanged, compared to its average volume of 4,674,658. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The stock has a market capitalization of $233.08 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. The company has a 50-day simple moving average of $130.41 and a 200 day simple moving average of $131.29. 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 (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. During the same period last year, the company earned $1.14 EPS. The firm'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 forecast that Abbott Laboratories will post 5.14 EPS for the current year.

Insider Activity

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction dated 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 directly owned 51,003 shares of the company's stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ABT. Mizuho upped their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Raymond James Financial lowered their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research note on Friday, July 18th. Morgan Stanley raised their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Finally, BTIG Research lowered their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $144.47.

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.