Abbott Laboratories $ABT is Hayek Kallen Investment Management's 3rd Largest Position

Key Points

• Hayek Kallen Investment Management increased its Abbott Laboratories stake by 2,342.9% in the fourth quarter, making ABT its third-largest position and about 6.1% of its portfolio.
• Abbott reported better-than-expected quarterly results, with earnings per share of $1.15 versus $1.14 expected and revenue of $11.16 billion versus $10.99 billion forecast, while revenue rose 7.8% year over year.
• The company declared a quarterly dividend of $0.63 per share, equal to an annualized $2.52 and a yield of 2.8%, while analysts currently rate the stock a Moderate Buy with a consensus target price of $118.30.

Hayek Kallen Investment Management lifted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 2,342.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 148,527 shares of the healthcare product maker's stock after purchasing an additional 142,447 shares during the period. Abbott Laboratories comprises approximately 6.1% of Hayek Kallen Investment Management's holdings, making the stock its 3rd biggest position. Hayek Kallen Investment Management's holdings in Abbott Laboratories were worth $18,609,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Freemont Management S.A. boosted its stake in shares of Abbott Laboratories by 197.2% in the fourth quarter. Freemont Management S.A. now owns 10,700 shares of the healthcare product maker's stock worth $1,341,000 after acquiring an additional 7,100 shares during the period. PFA Pension Forsikringsaktieselskab bought a new stake in Abbott Laboratories during the 4th quarter valued at approximately $116,580,000. Thrivent Financial for Lutherans raised its stake in Abbott Laboratories by 24.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 246,586 shares of the healthcare product maker's stock valued at $30,931,000 after purchasing an additional 48,286 shares during the period. Danica Pension Livsforsikringsaktieselskab purchased a new position in Abbott Laboratories in the 3rd quarter worth approximately $185,640,000. Finally, Net Worth Advisory Group bought a new position in Abbott Laboratories in the 4th quarter worth approximately $1,366,000. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABT. Weiss Ratings lowered shares of Abbott Laboratories from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday. Piper Sandler dropped their target price on shares of Abbott Laboratories from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, April 17th. TD Cowen cut their target price on shares of Abbott Laboratories from $137.00 to $115.00 and set a "buy" rating for the company in a research note on Friday, April 17th. BTIG Research reiterated a "buy" rating and issued a $131.00 price target on shares of Abbott Laboratories in a report on Monday, April 27th. Finally, The Goldman Sachs Group decreased their price target on shares of Abbott Laboratories from $121.00 to $113.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $118.30.

Abbott Laboratories Stock Up 0.1%

NYSE ABT opened at $88.48 on Friday. The stock has a 50 day moving average price of $90.08 and a 200-day moving average price of $106.60. Abbott Laboratories has a one year low of $81.97 and a one year high of $139.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.39. The company has a market capitalization of $154.12 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.52 and a beta of 0.63.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.01. The company had revenue of $11.16 billion for the quarter, compared to analysts' expectations of $10.99 billion. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. Abbott Laboratories's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.09 earnings per share. Abbott Laboratories has set its FY 2026 guidance at 5.380-5.580 EPS and its Q2 2026 guidance at 1.250-1.310 EPS. As a group, equities analysts predict that Abbott Laboratories will post 5.48 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be issued a $0.63 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.8%. Abbott Laboratories's payout ratio is 70.59%.

Insider Activity

In other Abbott Laboratories news, CFO Philip P. Boudreau bought 2,200 shares of the firm's stock in a transaction dated Thursday, April 23rd. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $201,300.00. Following the transaction, the chief financial officer owned 2,200 shares of the company's stock, valued at $201,300. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Starks purchased 10,000 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average cost of $92.65 per share, with a total value of $926,500.00. Following the acquisition, the director owned 6,751,103 shares in the company, valued at $625,489,692.95. The trade was a 0.15% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.46% of the stock is currently owned by corporate insiders.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.

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