NorthCrest Asset Manangement LLC Grows Stock Position in Abbott Laboratories $ABT

Key Points

• NorthCrest Asset Management LLC increased its stake in Abbott Laboratories by 7.7% during the 2nd quarter, bringing its total holdings to 67,561 shares worth approximately $9.08 million.
• Abbott Laboratories reported a quarterly revenue of $11.14 billion, exceeding analysts' expectations, and set FY 2025 guidance at 5.100-5.200 EPS.
• Several hedge funds raised their holdings in Abbott, with institutional investors now owning 75.18% of the stock, reflecting strong institutional interest in the company.

NorthCrest Asset Manangement LLC lifted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 7.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,561 shares of the healthcare product maker's stock after purchasing an additional 4,809 shares during the period. NorthCrest Asset Manangement LLC's holdings in Abbott Laboratories were worth $9,083,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

ABT has been the subject of several analyst reports. Evercore ISI increased their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Mizuho upped their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. William Blair raised Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. 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 research report on Friday, July 18th. Finally, Wells Fargo & Company dropped their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $145.22.

Abbott Laboratories Price Performance

ABT stock traded up $1.65 during trading 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. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The stock has a market capitalization of $237.09 billion, a P/E ratio of 17.07, a PEG ratio of 2.55 and a beta of 0.69. The company's 50-day moving average price is $130.47 and its two-hundred day moving average price is $131.19.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period last year, the company posted $1.14 EPS. The business's revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. As a group, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders 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 1.7%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm'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 directly owned 51,003 shares of the company's stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.

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.