Alecta Tjanstepension Omsesidigt Raises Stock Holdings in Abbott Laboratories $ABT

Key Points

• Alecta Tjanstepension Omsesidigt increased its stake in Abbott Laboratories by 79.0% in Q2, now holding approximately 1.39 million shares valued at $188.7 million.
• Abbott Laboratories reported Q2 earnings of $1.26 EPS, meeting analysts' expectations, with revenue increasing by 7.4% year-over-year, totaling $11.14 billion.
• Analysts have generally maintained a Moderate Buy rating on Abbott Laboratories, with target prices ranging from $140.00 to $147.00.

Alecta Tjanstepension Omsesidigt boosted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 79.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,388,100 shares of the healthcare product maker's stock after acquiring an additional 612,700 shares during the quarter. Alecta Tjanstepension Omsesidigt owned 0.08% of Abbott Laboratories worth $188,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Kelly Financial Services LLC purchased a new position in shares of Abbott Laboratories during the first quarter valued at approximately $216,000. Bank Pictet & Cie Europe AG lifted 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 acquiring an additional 2,774 shares in the last quarter. Edge Financial Advisors LLC lifted its position in shares of Abbott Laboratories by 3.3% in the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after acquiring an additional 81 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Abbott Laboratories in the fourth quarter valued at about $84,418,000. Finally, SageView Advisory Group LLC increased its holdings in shares of Abbott Laboratories by 18.6% in the first quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker's stock worth $2,427,000 after purchasing an additional 2,873 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction dated 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. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock traded up $1.65 on Friday, hitting $136.22. The stock had a trading volume of 11,531,874 shares, compared to its average volume of 4,828,819. Abbott Laboratories has a 52-week low of $110.86 and a 52-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. The company's 50 day moving average price is $130.47 and its 200 day moving average price is $131.19. The stock has a market cap of $237.09 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 2.58 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The firm'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 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 $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.7%. Abbott Laboratories's payout ratio is 29.57%.

Analyst Ratings Changes

ABT has been the topic of several analyst reports. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Morgan Stanley lifted their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. 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 report on Wednesday, July 16th. Finally, 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 report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $145.22.

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.