Berkshire Asset Management LLC PA Boosts Stock Position in Abbott Laboratories $ABT

Key Points

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Berkshire Asset Management LLC PA lifted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 1.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 308,390 shares of the healthcare product maker's stock after purchasing an additional 3,742 shares during the quarter. Abbott Laboratories comprises 1.9% of Berkshire Asset Management LLC PA's holdings, making the stock its 12th biggest position. Berkshire Asset Management LLC PA's holdings in Abbott Laboratories were worth $41,324,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ABT. Nuveen LLC acquired a new position in Abbott Laboratories during the 1st quarter worth approximately $1,658,180,000. T. Rowe Price Investment Management Inc. boosted its position in Abbott Laboratories by 383.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,358,698 shares of the healthcare product maker's stock worth $945,453,000 after acquiring an additional 6,628,310 shares during the last quarter. GAMMA Investing LLC boosted its position in Abbott Laboratories by 15,420.4% during the 1st quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock worth $676,866,000 after acquiring an additional 5,069,771 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Abbott Laboratories by 29.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock valued at $2,120,516,000 after buying an additional 3,616,471 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Abbott Laboratories by 12.8% in the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock valued at $3,948,117,000 after buying an additional 3,371,113 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Wall Street Analyst Weigh In

ABT has been the subject of several recent analyst reports. Raymond James Financial cut their price objective 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 cut their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Royal Bank Of Canada increased their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Morgan Stanley increased their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Finally, Mizuho increased their price target on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $144.47.

Abbott Laboratories Stock Performance

ABT stock traded up $0.4120 during trading hours on Friday, hitting $132.4120. 4,130,154 shares of the stock were exchanged, compared to its average volume of 5,721,513. 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 firm has a market capitalization of $230.46 billion, a P/E ratio of 16.59, a P/E/G ratio of 2.50 and a beta of 0.70. The company has a 50-day simple moving average of $131.08 and a two-hundred day simple moving average of $131.29. 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 issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. During the same quarter last year, the business earned $1.14 earnings per share. Abbott Laboratories's 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. On average, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were given a $0.59 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Insider Activity at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares of the company's stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.46% of the company's stock.

Abbott Laboratories 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.