Abbott Laboratories $ABT Shares Purchased by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. increased its stake in Abbott Laboratories by 2.8%, acquiring an additional 54,778 shares, bringing their total ownership to 1,979,286 shares worth approximately $262.55 million.
• Abbott Laboratories reported a Q2 earnings per share of $1.26, matching analysts' expectations, with revenue surpassing previous estimates at $11.14 billion, representing a 7.4% increase year-over-year.
• The company declared a quarterly dividend of $0.59 per share, with an annualized dividend yield of 1.8%.

Baird Financial Group Inc. boosted its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,979,286 shares of the healthcare product maker's stock after buying an additional 54,778 shares during the quarter. Baird Financial Group Inc. owned 0.11% of Abbott Laboratories worth $262,552,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ABT. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at approximately $27,000. Abound Financial LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at approximately $28,000. Elequin Capital LP purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at approximately $30,000. Wormser Freres Gestion purchased a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $32,000. Finally, JCIC Asset Management Inc. purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at approximately $32,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

NYSE ABT traded up $0.55 on Wednesday, hitting $132.01. The company had a trading volume of 4,754,506 shares, compared to its average volume of 6,736,383. The company has a market capitalization of $229.75 billion, a PE ratio of 16.54, a PEG ratio of 2.52 and a beta of 0.69. The company's fifty day moving average price is $130.84 and its 200-day moving average price is $131.36. 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 earnings per share (EPS) for the quarter, hitting 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 analysts' expectations of $11.01 billion. During the same quarter in the previous year, the company posted $1.14 EPS. The firm's quarterly 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, analysts predict 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. Shareholders of record on Tuesday, July 15th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 15th. Abbott Laboratories's payout ratio is 29.57%.

Analyst Upgrades and Downgrades

ABT has been the subject of several recent research reports. Leerink Partners initiated coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They set a "market perform" rating and a $143.00 target price for the company. Royal Bank Of Canada lifted their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Wells Fargo & Company cut their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their price target for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Finally, Raymond James Financial cut their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Two 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 company. According to MarketBeat, Abbott Laboratories presently 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 Abbott Laboratories stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction 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. The trade was a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.

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.