Abbott Laboratories $ABT Shares Bought by BankPlus Trust Department

Key Points

• BankPlus Trust Department increased its stake in Abbott Laboratories by 9.4%, acquiring an additional 2,107 shares during the second quarter, bringing their total shares owned to 24,517.
• Abbott Laboratories reported $1.26 EPS for the last quarter, matching analysts' estimates, with revenues of $11.14 billion, surpassing expectations of $11.01 billion.
• The company declared a quarterly dividend of $0.59 per share, with an annualized yield of 1.8%, payable on November 17 to stockholders of record by October 15.

BankPlus Trust Department lifted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 9.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,517 shares of the healthcare product maker's stock after acquiring an additional 2,107 shares during the quarter. Abbott Laboratories comprises about 1.0% of BankPlus Trust Department's investment portfolio, making the stock its 17th biggest holding. BankPlus Trust Department's holdings in Abbott Laboratories were worth $3,335,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ABT. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories during the first quarter valued at approximately $27,000. Abound Financial LLC acquired a new position in Abbott Laboratories in the first quarter worth approximately $28,000. Elequin Capital LP acquired a new position in Abbott Laboratories in the first quarter worth approximately $30,000. JCIC Asset Management Inc. acquired a new position in Abbott Laboratories in the first quarter worth approximately $32,000. Finally, Vision Financial Markets LLC acquired a new position in Abbott Laboratories in the first quarter worth approximately $33,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ABT shares. BTIG Research decreased their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Wells Fargo & Company decreased their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Abbott Laboratories in a research note on Saturday, September 27th. Finally, Mizuho raised their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $146.24.

Abbott Laboratories Trading Down 0.5%

Shares of NYSE:ABT opened at $133.05 on Wednesday. The firm has a fifty day moving average of $132.19 and a two-hundred day moving average of $131.45. The firm has a market capitalization of $231.58 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. Abbott Laboratories has a 12-month low of $110.86 and a 12-month 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 released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts' consensus estimates of $1.26. The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate 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 last year, the firm 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. On average, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction 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 transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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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