Alyeska Investment Group L.P. Sells 347,713 Shares of Abbott Laboratories $ABT

Key Points

• Alyeska Investment Group L.P. significantly reduced its stake in Abbott Laboratories by 59.7%, selling 347,713 shares and retaining 235,000 shares, valued at approximately $31.17 million.
• Insider trading activity included the company's CFO, Philip P. Boudreau, selling 5,550 shares of Abbott Laboratories, decreasing their ownership stake by nearly 10%.
• Abbott Laboratories announced a quarterly dividend of $0.59, resulting in an annualized dividend yield of 1.8%, while the company's earnings per share (EPS) guidance for FY 2025 is set between 5.100-5.200.

Alyeska Investment Group L.P. reduced its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 59.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,000 shares of the healthcare product maker's stock after selling 347,713 shares during the quarter. Alyeska Investment Group L.P.'s holdings in Abbott Laboratories were worth $31,173,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Hughes Financial Services LLC purchased a new position in Abbott Laboratories during the first quarter worth about $27,000. Abound Financial LLC purchased a new position in Abbott Laboratories in the first quarter valued at about $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories in the first quarter valued at about $30,000. Wormser Freres Gestion purchased a new position in Abbott Laboratories in the fourth quarter valued at about $32,000. Finally, JCIC Asset Management Inc. purchased a new position in Abbott Laboratories in the first quarter valued at about $32,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. 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 note on Tuesday, July 8th. Morgan Stanley upped their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. 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 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $144.47.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction 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 sale, the chief financial officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded down $0.67 during trading on Monday, reaching $132.27. The company had a trading volume of 5,029,356 shares, compared to its average volume of 6,696,521. The company has a fifty day moving average of $130.68 and a two-hundred day moving average of $131.38. The stock has a market capitalization of $230.21 billion, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a 12 month low of $110.86 and a 12 month 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 released 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. 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 quarter last year, the firm earned $1.14 EPS. The firm's quarterly revenue 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. Equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

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.