Chatham Capital Group Inc. Buys 12,387 Shares of Abbott Laboratories $ABT

Key Points

• Chatham Capital Group Inc. raised its stake in Abbott Laboratories by 107.1%, acquiring an additional 12,387 shares, bringing its total holdings to 23,950 shares valued at approximately $3.26 million.
• A number of brokerages have increased their price targets for Abbott Laboratories, with estimates ranging from $137.00 to $147.00, indicating strong analyst support for the stock.
• Abbott Laboratories has declared a quarterly dividend of $0.59, with an annualized yield of 1.8%, payable on November 17th to shareholders of record on October 15th.

Chatham Capital Group Inc. raised its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 107.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,950 shares of the healthcare product maker's stock after acquiring an additional 12,387 shares during the period. Chatham Capital Group Inc.'s holdings in Abbott Laboratories were worth $3,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ABT. Brighton Jones LLC grew its holdings in shares of Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after purchasing an additional 4,755 shares in the last quarter. Legacy Financial Strategies LLC lifted its position in Abbott Laboratories by 6.5% during the first quarter. Legacy Financial Strategies LLC now owns 27,042 shares of the healthcare product maker's stock valued at $3,587,000 after purchasing an additional 1,642 shares during the last quarter. Andrew Hill Investment Advisors Inc. purchased a new position in shares of Abbott Laboratories in the 1st quarter worth $234,000. IFG Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $225,000. Finally, Somerset Trust Co lifted its holdings in shares of Abbott Laboratories by 4.6% in the 1st quarter. Somerset Trust Co now owns 44,078 shares of the healthcare product maker's stock valued at $5,847,000 after acquiring an additional 1,947 shares during the last quarter. Institutional investors own 75.18% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABT. Morgan Stanley upped their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Mizuho increased their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Evercore ISI boosted their price objective 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. Royal Bank Of Canada increased their price target on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and increased their target price for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Two investment 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 data from MarketBeat, Abbott Laboratories presently has an average rating of "Moderate Buy" and an average target price of $145.22.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Up 0.2%

Shares of Abbott Laboratories stock opened at $133.62 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The company has a market cap of $232.56 billion, a P/E ratio of 16.74, a PEG ratio of 2.53 and a beta of 0.69. The firm's 50 day moving average price is $131.14 and its 200-day moving average price is $131.15. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. The company had revenue of $11.14 billion during 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%. Abbott Laboratories's revenue was up 7.4% compared to the same quarter last year. During the same period last 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. On average, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories's dividend payout ratio (DPR) is 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.

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