Adage Capital Partners GP L.L.C. Has $188.05 Million Stock Position in Abbott Laboratories $ABT

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Abbott Laboratories by 23.2%, owning approximately 1,417,664 shares valued at $188 million as of the latest quarter.
• Abbott Laboratories reported $1.26 EPS in its recent earnings, meeting expectations with a 7.4% increase in quarterly revenue compared to the previous year.
• The company declared a quarterly dividend of $0.59 per share, representing an annualized dividend yield of 1.8%.

Adage Capital Partners GP L.L.C. lifted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 23.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,417,664 shares of the healthcare product maker's stock after buying an additional 267,050 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.08% of Abbott Laboratories worth $188,053,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ABT. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories in the first quarter worth $27,000. Abound Financial LLC acquired a new stake in shares of Abbott Laboratories in the first quarter worth $28,000. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories in the first quarter worth $30,000. Wormser Freres Gestion purchased a new stake in shares of Abbott Laboratories during the fourth quarter worth $32,000. Finally, JCIC Asset Management Inc. purchased a new stake in shares of Abbott Laboratories during the first quarter worth $32,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction dated Friday, August 8th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ABT shares. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and increased their price objective for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Royal Bank Of Canada increased their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Wells Fargo & Company cut their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Finally, Evercore ISI increased their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $144.47.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded up $0.11 during midday trading on Friday, hitting $132.92. The company's stock had a trading volume of 3,286,796 shares, compared to its average volume of 5,085,004. The stock has a market capitalization of $231.33 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 2.52 and a beta of 0.69. The stock's 50 day simple moving average is $130.68 and its 200 day simple moving average is $131.39. 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.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26. The company had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm's revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business 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. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were given a $0.59 dividend. This represents a $2.36 annualized dividend 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%.

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.