Bath Savings Trust Co Raises Stock Position in Abbott Laboratories $ABT

Key Points

• Bath Savings Trust Co has increased its holdings in Abbott Laboratories to $22.97 million, owning 168,871 shares after acquiring 2,127 additional shares in the second quarter.
• Institutional investors and hedge funds control 75.18% of Abbott Laboratories' stock, indicating strong institutional interest in the company.
• Abbott Laboratories reported a 7.4% year-over-year increase in quarterly revenue, with earnings per share meeting analysts' expectations at $1.26.

Bath Savings Trust Co grew its position in Abbott Laboratories (NYSE:ABT - Free Report) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,871 shares of the healthcare product maker's stock after purchasing an additional 2,127 shares during the period. Abbott Laboratories comprises about 2.3% of Bath Savings Trust Co's portfolio, making the stock its 11th largest position. Bath Savings Trust Co's holdings in Abbott Laboratories were worth $22,968,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ABT. Kelly Financial Services LLC purchased a new stake in Abbott Laboratories during the first quarter worth about $216,000. Bank Pictet & Cie Europe AG increased its holdings in Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after buying an additional 2,774 shares during the last quarter. Edge Financial Advisors LLC increased its holdings in Abbott Laboratories by 3.3% during the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock worth $336,000 after buying an additional 81 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Abbott Laboratories during the fourth quarter worth about $84,418,000. Finally, SageView Advisory Group LLC increased its holdings in Abbott Laboratories by 18.6% during the first quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker's stock worth $2,427,000 after buying an additional 2,873 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Price Performance

Shares of ABT stock traded up $1.65 during trading hours on Friday, hitting $136.22. 11,531,874 shares of the company's stock were exchanged, compared to its average volume of 4,828,819. The company has a market capitalization of $237.09 billion, a PE ratio of 17.07, a PEG ratio of 2.55 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 business's 50 day simple moving average is $130.47 and its 200-day simple moving average is $131.19. 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 posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting the consensus estimate of $1.26. The firm had revenue of $11.14 billion for 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 business's revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm 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. On average, equities research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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

Insider Activity at Abbott Laboratories

In related 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 value of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company's stock, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ABT has been the subject of a number of research analyst reports. BTIG Research decreased their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Royal Bank Of Canada lifted their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Evercore ISI lifted their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $145.22.

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.