Apexium Financial LP Boosts Stock Position in Abbott Laboratories $ABT

Key Points

• Apexium Financial LP increased its holdings in Abbott Laboratories by 83.1%, owning 6,234 shares valued at approximately $827,000 after acquiring an additional 2,830 shares in Q1.
• Abbott Laboratories reported earnings of $1.26 per share for the most recent quarter, matching consensus estimates, with revenues of $11.14 billion indicating a 7.4% increase compared to the same quarter last year.
• The company announced a quarterly dividend of $0.59, resulting in an annualized dividend yield of 1.8% and a payout ratio of 29.57%.

Apexium Financial LP boosted its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 83.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,234 shares of the healthcare product maker's stock after purchasing an additional 2,830 shares during the period. Apexium Financial LP's holdings in Abbott Laboratories were worth $827,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new position in Abbott Laboratories during the first quarter worth about $27,000. Abound Financial LLC bought a new position in Abbott Laboratories in the 1st quarter valued at approximately $28,000. Elequin Capital LP acquired a new stake in Abbott Laboratories in the first quarter valued at approximately $30,000. JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories during the first quarter worth $32,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Abbott Laboratories during the first quarter worth $33,000. Institutional investors own 75.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ABT shares. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Evercore ISI boosted their price target on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Morgan Stanley raised 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 boosted their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company dropped their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Two equities research 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $144.47.

Abbott Laboratories Stock Up 0.0%

Abbott Laboratories stock traded up $0.01 during midday trading on Thursday, reaching $131.47. The stock had a trading volume of 4,674,515 shares, compared to its average volume of 5,499,934. The company has a fifty day moving average price of $131.01 and a two-hundred day moving average price of $131.33. 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. The company has a market capitalization of $228.81 billion, a P/E ratio of 26.83, a PEG ratio of 2.49 and a beta of 0.70.

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

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were paid a $0.59 dividend. 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 is 29.57%.

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction 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 in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by 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.