Ballentine Partners LLC Acquires 2,771 Shares of Abbott Laboratories $ABT

Key Points

• Ballentine Partners LLC increased its stake in Abbott Laboratories by 5.5%, acquiring an additional 2,771 shares, bringing their total holdings to 53,498 shares valued at approximately $7.28 million.
• Abbott Laboratories reported earnings of $1.26 per share, meeting analysts' expectations, and had a revenue of $11.14 billion for the quarter, marking a 7.4% increase year-over-year.
• The company declared a quarterly dividend of $0.59, with an annualized yield of 1.7%, set to be paid to shareholders on November 17th.

Ballentine Partners LLC lifted its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 5.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,498 shares of the healthcare product maker's stock after acquiring an additional 2,771 shares during the quarter. Ballentine Partners LLC's holdings in Abbott Laboratories were worth $7,276,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cim LLC increased its holdings in shares of Abbott Laboratories by 0.4% in the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock valued at $1,919,000 after purchasing an additional 73 shares during the last quarter. Consilium Wealth Advisory LLC raised its holdings in 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 acquiring an additional 78 shares during the period. Mayflower Financial Advisors LLC lifted its position in Abbott Laboratories by 0.5% during the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock worth $2,298,000 after acquiring an additional 78 shares during the last quarter. FF Advisors LLC boosted its holdings in shares of Abbott Laboratories by 4.3% during the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker's stock worth $259,000 after acquiring an additional 79 shares during the period. Finally, Opes Wealth Management LLC grew its position in shares of Abbott Laboratories by 2.9% in the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock valued at $379,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 75.18% of the company's stock.

Insider Buying and Selling at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction that occurred 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 directly owned 51,003 shares of the company's stock, valued at approximately $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. Insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $135.82 on Wednesday. The company's 50 day simple moving average is $130.65 and its 200 day simple moving average is $131.15. 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 1 year low of $110.86 and a 1 year high of $141.23. The stock has a market capitalization of $236.39 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 2.59 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts' consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the business posted $1.14 EPS. The company's 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. As a group, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.7%. Abbott Laboratories's dividend payout ratio is 29.57%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Leerink Partners initiated coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price objective on the stock. Wells Fargo & Company lowered 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 report on Friday, July 18th. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Raymond James Financial lowered their target price on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a report on Friday, July 18th. Finally, William Blair raised Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $145.22.

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.

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