Abbott Laboratories $ABT Shares Acquired by Smith Salley Wealth Management

Key Points

• Smith Salley Wealth Management increased its stake in Abbott Laboratories by 2.8%, owning 182,078 shares worth approximately $24.76 million, making it the 18th largest holding in their portfolio.
• Abbott Laboratories reported earnings of $1.26 per share, in line with estimates, and experienced a 7.4% year-over-year revenue growth, totaling $11.14 billion for the quarter.
• The company announced a quarterly dividend of $0.59, implying an annualized payout of $2.36, with a dividend yield of 1.8% and a payout ratio of 29.57%.

Smith Salley Wealth Management boosted its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,078 shares of the healthcare product maker's stock after buying an additional 4,882 shares during the period. Abbott Laboratories accounts for about 1.4% of Smith Salley Wealth Management's portfolio, making the stock its 18th largest holding. Smith Salley Wealth Management's holdings in Abbott Laboratories were worth $24,764,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after purchasing an additional 4,755 shares in the last quarter. Legacy Financial Strategies LLC raised its stake in shares of Abbott Laboratories by 6.5% in the first quarter. Legacy Financial Strategies LLC now owns 27,042 shares of the healthcare product maker's stock worth $3,587,000 after acquiring an additional 1,642 shares during the last quarter. Andrew Hill Investment Advisors Inc. acquired a new position in Abbott Laboratories during the first quarter valued at approximately $234,000. IFG Advisors LLC bought a new stake in Abbott Laboratories during the first quarter worth $225,000. Finally, Somerset Trust Co grew its stake in shares of Abbott Laboratories by 4.6% in the first quarter. Somerset Trust Co now owns 44,078 shares of the healthcare product maker's stock valued at $5,847,000 after acquiring an additional 1,947 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Trading Up 0.2%

NYSE:ABT opened at $133.62 on Friday. The stock's 50 day moving average price is $131.14 and its 200 day moving average price is $131.15. The company has a market capitalization of $232.56 billion, a PE ratio of 16.74, a P/E/G 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 has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. 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, research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on ABT. Royal Bank Of Canada upped their price target on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Leerink Partners began coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price on the stock. BTIG Research decreased their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Mizuho lifted their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and increased their price target for the company from $143.00 to $145.00 in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $145.22.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares of the company's stock, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company's stock.

About Abbott Laboratories

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.

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.