Beck Mack & Oliver LLC Acquires 32,213 Shares of Abbott Laboratories $ABT

Key Points

• Beck Mack & Oliver LLC increased its stake in Abbott Laboratories by 4.0%, now holding 842,669 shares valued at approximately $111.78 million.
• Abbott Laboratories reported $1.26 EPS, meeting analysts’ expectations, with quarterly revenue of $11.14 billion, up 7.4% year-over-year.
• The company's quarterly dividend declared was $0.59, leading to an annualized dividend yield of 1.8%.

Beck Mack & Oliver LLC increased its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 842,669 shares of the healthcare product maker's stock after buying an additional 32,213 shares during the quarter. Abbott Laboratories makes up 2.2% of Beck Mack & Oliver LLC's holdings, making the stock its 18th biggest position. Beck Mack & Oliver LLC's holdings in Abbott Laboratories were worth $111,780,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Hughes Financial Services LLC acquired a new stake in Abbott Laboratories during the 1st quarter valued at $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories during the 1st quarter valued at $28,000. Elequin Capital LP acquired a new stake in Abbott Laboratories during the 1st quarter valued at $30,000. Wormser Freres Gestion acquired a new stake in Abbott Laboratories during the 4th quarter valued at $32,000. Finally, JCIC Asset Management Inc. acquired a new stake in shares of Abbott Laboratories during the first quarter worth $32,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ABT shares. Royal Bank Of Canada lifted their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Raymond James Financial dropped their target price on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. BTIG Research dropped their target price on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Leerink Partners started coverage on Abbott Laboratories in a report on Monday, June 16th. They set a "market perform" rating and a $143.00 target price for the company. Finally, Morgan Stanley lifted their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.47.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the 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 completion of the sale, the chief financial officer owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Price Performance

NYSE ABT traded up $0.62 during trading on Thursday, hitting $132.80. 5,069,112 shares of the company's stock were exchanged, compared to its average volume of 6,726,733. 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 cap of $231.14 billion, a PE ratio of 16.64, a P/E/G ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The stock's 50 day moving average price is $130.73 and its two-hundred day moving average price is $131.36.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its 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 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 business's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $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. Research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is currently 29.57%.

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.