Abbott Laboratories $ABT Stake Raised by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors LLC increased its stake in Abbott Laboratories by 16.0%, owning 70,394 shares worth approximately $9.57 million as of the latest SEC filing.
• Abbott Laboratories recently announced a quarterly dividend of $0.59 per share, payable on November 17th, representing an annualized yield of 1.8%.
• Abbott's stock has a market capitalization of $230.26 billion with a recent stock price of $132.30, and analysts have given it an average price target of $146.17.

Concurrent Investment Advisors LLC boosted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 16.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,394 shares of the healthcare product maker's stock after acquiring an additional 9,685 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Abbott Laboratories were worth $9,574,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Abbott Laboratories by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker's stock worth $22,527,039,000 after buying an additional 1,177,739 shares during the period. Wellington Management Group LLP raised its holdings in Abbott Laboratories by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock worth $3,948,117,000 after buying an additional 3,371,113 shares during the period. Goldman Sachs Group Inc. raised its holdings in Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock worth $2,120,516,000 after buying an additional 3,616,471 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Abbott Laboratories by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker's stock worth $1,916,966,000 after buying an additional 1,639,954 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Abbott Laboratories by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker's stock worth $1,738,831,000 after buying an additional 168,095 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Insider Transactions at Abbott Laboratories

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 stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares of the company's stock, valued at $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by insiders.

Abbott Laboratories Stock Down 0.8%

Shares of Abbott Laboratories stock opened at $132.30 on Friday. The stock has a market capitalization of $230.26 billion, a P/E ratio of 16.58, a PEG ratio of 2.51 and a beta of 0.69. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average price of $132.54 and a two-hundred day moving average price of $131.60. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23.

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

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Analysts Set New Price Targets

Several analysts have issued reports on ABT shares. Mizuho boosted their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Raymond James Financial dropped their target price on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a report on Friday, July 18th. Benchmark started coverage on Abbott Laboratories in a report on Friday. They issued a "buy" rating and a $145.00 target price on the stock. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Finally, Morgan Stanley increased their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Two 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's stock. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of "Moderate Buy" and an average price target of $146.17.

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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