Allstate Corp Boosts Holdings in Abbott Laboratories $ABT

Key Points

• Allstate Corp has increased its stake in Abbott Laboratories by 21.9%, now holding 63,520 shares valued at approximately $8.43 million.
• Analysts have raised their price targets for Abbott Laboratories, with a consensus price target of $144.47 and a current rating of "Moderate Buy."
• Abbott Laboratories recently reported quarterly earnings of $1.26 per share, meeting analysts' expectations, and announced a quarterly dividend of $0.59 per share.

Allstate Corp boosted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 21.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,520 shares of the healthcare product maker's stock after buying an additional 11,424 shares during the period. Allstate Corp's holdings in Abbott Laboratories were worth $8,426,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Cim LLC grew its holdings in Abbott Laboratories by 0.4% during the 4th quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock worth $1,919,000 after acquiring an additional 73 shares during the last quarter. Consilium Wealth Advisory LLC boosted its stake in shares of Abbott Laboratories by 2.1% in the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock valued at $507,000 after purchasing an additional 78 shares during the last quarter. Mayflower Financial Advisors LLC lifted its position in shares of Abbott Laboratories by 0.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock valued at $2,298,000 after acquiring an additional 78 shares during the period. Opes Wealth Management LLC lifted its position in shares of Abbott Laboratories by 2.9% during the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock valued at $379,000 after acquiring an additional 80 shares during the period. Finally, Lcnb Corp lifted its position in shares of Abbott Laboratories by 0.5% during the 1st quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker's stock valued at $2,111,000 after acquiring an additional 80 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm'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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Down 0.2%

Shares of ABT stock traded down $0.26 on Wednesday, hitting $131.33. The stock had a trading volume of 1,894,960 shares, compared to its average volume of 6,763,045. The business has a 50 day moving average of $131.03 and a 200 day moving average of $131.33. The stock has a market cap of $228.58 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 2.50 and a beta of 0.70. 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 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 EPS for the quarter, meeting the consensus estimate of $1.26. The company had revenue of $11.14 billion during 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%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior 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. As a group, analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

Analyst Ratings Changes

A number of research firms recently issued reports on ABT. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Evercore ISI boosted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. BTIG Research lowered their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and upped their price objective for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Finally, Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $144.47.

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.