Sessa Capital IM L.P. Has $239.70 Million Stock Holdings in Abbott Laboratories $ABT

Key Points

• Sessa Capital IM L.P. reduced its holdings in Abbott Laboratories by 54.9%, now owning approximately 1.8 million shares worth around $239.7 million, after selling about 2.2 million shares in the first quarter.
• Abbott Laboratories reported a quarterly earnings of $1.26 per share, with revenues of $11.14 billion, beating analyst expectations, and a year-over-year revenue increase of 7.4%.
• The company recently announced a quarterly dividend of $0.59 per share, representing an annual yield of 1.8%, with a dividend payout ratio of 29.57%.

Sessa Capital IM L.P. lowered its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 54.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,806,988 shares of the healthcare product maker's stock after selling 2,199,735 shares during the period. Abbott Laboratories makes up 9.3% of Sessa Capital IM L.P.'s holdings, making the stock its 4th largest position. Sessa Capital IM L.P. owned approximately 0.10% of Abbott Laboratories worth $239,697,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new stake in Abbott Laboratories in the first quarter worth about $27,000. Abound Financial LLC acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth approximately $28,000. Elequin Capital LP bought a new position in shares of Abbott Laboratories in the first quarter valued at approximately $30,000. JCIC Asset Management Inc. bought a new stake in Abbott Laboratories during the first quarter worth approximately $32,000. Finally, Vision Financial Markets LLC bought a new stake in Abbott Laboratories during the first quarter worth approximately $33,000. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Down 1.9%

NYSE:ABT traded down $2.56 during trading hours on Wednesday, hitting $129.39. 7,392,932 shares of the stock traded hands, compared to its average volume of 6,688,948. The firm has a 50 day moving average price of $130.52 and a 200 day moving average price of $131.36. The firm has a market cap of $225.20 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 2.51 and a beta of 0.69. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. 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 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 return on equity of 18.32% and a net margin of 32.43%.Abbott Laboratories's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company 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. Equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction that occurred 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 approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ABT. Wells Fargo & Company dropped their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. BTIG Research dropped 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. Evercore ISI upped their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Finally, Leerink Partners began coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus price target of $144.47.

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.