Corient IA LLC Purchases New Holdings in Abbott Laboratories $ABT

Key Points

• Corient IA LLC acquired 3,615 shares of Abbott Laboratories, valued at approximately $480,000, in its recent 13F filing with the SEC.
• Abbott Laboratories reported a 7.4% increase in quarterly revenue year-over-year, totaling $11.14 billion with an EPS of $1.26, matching analysts' expectations.
• The company recently declared a quarterly dividend of $0.59 per share, yielding 1.8%, with a payout ratio of 29.57%.

Corient IA LLC purchased a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,615 shares of the healthcare product maker's stock, valued at approximately $480,000.

Other hedge funds have also recently bought and sold shares of the company. Three Seasons Wealth LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth approximately $1,428,000. Kelly Financial Services LLC acquired a new stake in Abbott Laboratories during the first quarter worth approximately $216,000. Voleon Capital Management LP acquired a new stake in Abbott Laboratories during the fourth quarter worth approximately $273,000. Bank Pictet & Cie Europe AG boosted its position in Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after acquiring an additional 2,774 shares during the last quarter. Finally, Edge Financial Advisors LLC boosted its position in Abbott Laboratories by 3.3% during the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock worth $336,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Trading Up 0.8%

Shares of ABT stock traded up $1.0530 during mid-day trading on Wednesday, reaching $132.3030. The company's stock had a trading volume of 3,639,775 shares, compared to its average volume of 6,846,146. The company's 50 day simple moving average is $131.28 and its 200-day simple moving average is $131.24. Abbott Laboratories has a 12-month low of $110.68 and a 12-month high of $141.23. 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 firm has a market capitalization of $230.27 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 2.47 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the firm posted $1.14 EPS. The business'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. On average, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABT. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and raised their target price for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Raymond James Financial decreased their price target 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. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. BTIG Research decreased their price target 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. Finally, Mizuho lifted their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $144.47.

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.