Canada Post Corp Registered Pension Plan Makes New Investment in Abbott Laboratories $ABT

Key Points

• The Canada Post Corp Registered Pension Plan invested approximately $18.06 million to acquire 136,157 shares of Abbott Laboratories, making it the pension plan's 3rd largest holding at 8.0% of its portfolio.
• Abbott Laboratories reported a quarterly earnings per share (EPS) of $1.26, meeting expectations, and announced a quarterly dividend of $0.59 with a yield of 1.8%.
• Several institutional investors, including Arete Wealth Advisors and Great Lakes Advisors, have recently increased their stakes in Abbott, indicating strong institutional interest in the company.

Canada Post Corp Registered Pension Plan bought a new position in Abbott Laboratories (NYSE:ABT - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 136,157 shares of the healthcare product maker's stock, valued at approximately $18,061,000. Abbott Laboratories accounts for approximately 8.0% of Canada Post Corp Registered Pension Plan's investment portfolio, making the stock its 3rd largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth about $27,000. Abound Financial LLC purchased a new position in Abbott Laboratories during the 1st quarter valued at about $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories during the 1st quarter valued at about $30,000. JCIC Asset Management Inc. purchased a new position in Abbott Laboratories during the 1st quarter valued at about $32,000. Finally, Vision Financial Markets LLC purchased a new position in Abbott Laboratories during the 1st quarter valued at about $33,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of ABT traded up $1.27 during mid-day trading on Friday, hitting $133.92. 5,700,290 shares of the company traded hands, compared to its average volume of 4,674,658. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The stock has a 50-day moving average price of $130.41 and a two-hundred day moving average price of $131.32. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The stock has a market cap of $233.08 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 2.52 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. During the same period in the previous year, the company earned $1.14 earnings per share. 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. Equities analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Analyst Ratings Changes

ABT has been the subject of a number of recent research reports. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Evercore ISI lifted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Wells Fargo & Company decreased 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. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Finally, Morgan Stanley lifted their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Abbott Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $144.47.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business's 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 directly owned 51,003 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Company 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.