EP Wealth Advisors LLC Has $8.37 Million Stock Position in Abbott Laboratories $ABT

Key Points

• EP Wealth Advisors LLC increased its stake in Abbott Laboratories by 13.9%, acquiring a total of 63,123 shares worth approximately $8,373,000.
• Abbott reported earnings of $1.26 per share for the last quarter, matching analysts' expectations, with revenue increasing 7.4% year-over-year.
• The company declared a quarterly dividend of $0.59 per share, reflecting an annualized dividend yield of 1.8%.

EP Wealth Advisors LLC grew its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 13.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,123 shares of the healthcare product maker's stock after acquiring an additional 7,713 shares during the period. EP Wealth Advisors LLC's holdings in Abbott Laboratories were worth $8,373,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ABT. Brighton Jones LLC raised its position in shares of Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after buying an additional 4,755 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after buying an additional 2,774 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $6,085,000. Captrust Financial Advisors raised its position in shares of Abbott Laboratories by 2.2% in the fourth quarter. Captrust Financial Advisors now owns 385,920 shares of the healthcare product maker's stock valued at $43,651,000 after buying an additional 8,363 shares in the last quarter. Finally, BOKF NA raised its position in shares of Abbott Laboratories by 3.3% in the fourth quarter. BOKF NA now owns 143,485 shares of the healthcare product maker's stock valued at $16,115,000 after buying an additional 4,632 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction on 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 owned 51,003 shares in the company, valued at $6,862,453.65. The trade was 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 at this hyperlink. 0.46% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada lifted 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. Wells Fargo & Company dropped their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their price objective for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Evercore ISI lifted their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $144.47.

Abbott Laboratories Trading Up 0.1%

ABT stock traded up $0.11 during midday trading on Friday, hitting $132.92. The stock had a trading volume of 3,286,796 shares, compared to its average volume of 5,085,004. The firm has a market cap of $231.33 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. 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 has a 1-year low of $110.86 and a 1-year high of $141.23. The business has a fifty day moving average price of $130.68 and a two-hundred day moving average price of $131.39.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its 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 business had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. Abbott Laboratories's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $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. On average, sell-side analysts predict 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 was paid on Friday, August 15th. Investors 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 annualized dividend and a yield of 1.8%. Abbott Laboratories's payout ratio is presently 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.