Abbott Laboratories $ABT is Broderick Brian C's 7th Largest Position

Key Points

• Broderick Brian C reduced its holdings in Abbott Laboratories by 3.8%, retaining 121,819 shares, making it the firm's 7th largest position worth approximately $16.57 million.
• Institutional investors collectively own 75.18% of Abbott Laboratories, with Vanguard Group Inc. increasing its position by 0.7% to become a significant stakeholder.
• Abbott Laboratories recently reported earnings of $1.26 per share for the last quarter, meeting expectations, alongside a quarterly dividend announcement of $0.59 per share to be paid on November 17.

Broderick Brian C lessened its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 3.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 121,819 shares of the healthcare product maker's stock after selling 4,747 shares during the period. Abbott Laboratories accounts for approximately 3.3% of Broderick Brian C's portfolio, making the stock its 7th largest holding. Broderick Brian C's holdings in Abbott Laboratories were worth $16,569,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Vanguard Group Inc. increased its position in shares of Abbott Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker's stock worth $22,527,039,000 after purchasing an additional 1,177,739 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Abbott Laboratories by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock worth $3,948,117,000 after buying an additional 3,371,113 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock valued at $2,120,516,000 after buying an additional 3,616,471 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Abbott Laboratories by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker's stock worth $1,916,966,000 after acquiring an additional 1,639,954 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Abbott Laboratories by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker's stock worth $1,738,831,000 after acquiring an additional 168,095 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ABT. Leerink Partners initiated coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a "market perform" rating and a $143.00 price target on the stock. Mizuho raised their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Royal Bank Of Canada increased their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, BTIG Research lowered their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $146.24.

Insider Buying and Selling at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $133.05 on Wednesday. The company has a market capitalization of $231.58 billion, a P/E ratio of 16.67, a PEG ratio of 2.54 and a beta of 0.69. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. 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 stock has a 50 day moving average price of $132.19 and a two-hundred day moving average price of $131.45.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its 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 firm had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. During the same quarter last year, the business earned $1.14 earnings per share. The business's revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio 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.

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