Abbott Laboratories $ABT Stake Raised by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC has increased its stake in Abbott Laboratories by 9.1%, making it the firm's 8th largest position with over 1.23 million shares valued at approximately $163.5 million.
• The company reported Q2 earnings of $1.26 per share, matching expectations, and a 7.4% revenue growth year-over-year, with a total revenue of $11.14 billion.
• Abbott Laboratories has declared a quarterly dividend of $0.59 per share, reflecting an annualized yield of 1.8%, and has a dividend payout ratio of 29.57%.

Great Lakes Advisors LLC boosted its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 9.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,233,576 shares of the healthcare product maker's stock after buying an additional 103,166 shares during the quarter. Abbott Laboratories accounts for approximately 1.5% of Great Lakes Advisors LLC's investment portfolio, making the stock its 8th largest position. Great Lakes Advisors LLC owned 0.07% of Abbott Laboratories worth $163,515,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of ABT. Hughes Financial Services LLC purchased a new position in Abbott Laboratories during the first quarter worth $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories during the first quarter worth $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories during the first quarter worth $30,000. Wormser Freres Gestion bought a new stake in shares of Abbott Laboratories during the fourth quarter worth $32,000. Finally, JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories during the first quarter worth $32,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ABT shares. Evercore ISI lifted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Morgan Stanley lifted their price objective on 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 upgraded Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Finally, Raymond James Financial decreased their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Two investment 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 company's stock. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and an average price target of $144.47.

Abbott Laboratories Stock Down 1.9%

Abbott Laboratories stock traded down $2.56 during trading hours on Wednesday, reaching $129.39. The stock had a trading volume of 7,392,932 shares, compared to its average volume of 4,846,492. The company has a market cap of $225.20 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 2.50 and a beta of 0.69. 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 business's 50 day moving average price is $130.43 and its 200-day moving average price is $131.35. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts' consensus estimates of $1.26. The business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm's revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

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