Abbott Laboratories $ABT Shares Acquired by Eastern Bank

Key Points

• Eastern Bank increased its holdings in Abbott Laboratories by 35.0% during the second quarter, owning 322,469 shares worth approximately $43.9 million at the end of the quarter.
• Several institutional investors, including Vanguard Group and Goldman Sachs, also increased their stakes in Abbott, leading to institutional ownership of 75.18%.
• Abbott Laboratories reported earnings of $1.26 EPS for the last quarter, with a revenue of $11.14 billion, reflecting a 7.4% year-over-year increase.

Eastern Bank increased its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 35.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 322,469 shares of the healthcare product maker's stock after acquiring an additional 83,626 shares during the quarter. Eastern Bank's holdings in Abbott Laboratories were worth $43,859,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Abbott Laboratories by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker's stock valued at $22,527,039,000 after acquiring an additional 1,177,739 shares during the period. 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 valued at $3,948,117,000 after acquiring an additional 3,371,113 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Abbott Laboratories by 29.2% in 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 acquiring an additional 3,616,471 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Abbott Laboratories by 12.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker's stock valued at $1,916,966,000 after acquiring an additional 1,639,954 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Abbott Laboratories by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker's stock valued at $1,738,831,000 after buying an additional 168,095 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ABT shares. Mizuho boosted their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Wells Fargo & Company dropped their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Benchmark started coverage on shares of Abbott Laboratories in a research note on Friday. They issued a "buy" rating and a $145.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, BTIG Research dropped their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Abbott Laboratories presently has an average rating of "Moderate Buy" and an average target price of $146.17.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $132.30 on Friday. The stock has a market cap of $230.26 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 2.53 and a beta of 0.69. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company's 50-day moving average price is $132.54 and its 200 day moving average price is $131.56. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts' consensus estimates of $1.26. The firm had revenue of $11.14 billion for the quarter, compared to analysts' expectations 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 prior year, the company earned $1.14 EPS. 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 forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio is 29.57%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company'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 transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company's stock.

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.

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