29,653 Shares in Abbott Laboratories $ABT Purchased by Divergent Planning LLC

Key Points

• Divergent Planning LLC has acquired a new stake in Abbott Laboratories, purchasing 29,653 shares valued at approximately $4,033,000, making the stock their 25th largest position.
• Abbott Laboratories has reported revenue of $11.14 billion for the last quarter, exceeding analysts' expectations, with an earnings per share (EPS) of $1.26.
• Institutional investors own 75.18% of Abbott Laboratories' stock, indicating strong institutional interest in the company.

Divergent Planning LLC bought a new position in Abbott Laboratories (NYSE:ABT - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 29,653 shares of the healthcare product maker's stock, valued at approximately $4,033,000. Abbott Laboratories comprises approximately 1.5% of Divergent Planning LLC's portfolio, making the stock its 25th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of ABT. Kelly Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $216,000. Bank Pictet & Cie Europe AG boosted its holdings in Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after acquiring an additional 2,774 shares during the period. Edge Financial Advisors LLC grew its position in Abbott Laboratories by 3.3% in the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after acquiring an additional 81 shares in 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 boosted its stake in shares of Abbott Laboratories by 18.6% in the first quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker's stock valued at $2,427,000 after purchasing an additional 2,873 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded up $1.65 during trading on Friday, hitting $136.22. 11,531,874 shares of the company were exchanged, compared to its average volume of 6,669,153. The company has a market cap of $237.09 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 2.54 and a beta of 0.69. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The firm's fifty day moving average price is $130.38 and its 200 day moving average price is $131.20. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts' consensus estimates of $1.26. The company had revenue of $11.14 billion for 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%.Abbott Laboratories's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business 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 expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm 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 yield of 1.7%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ABT shares. Wells Fargo & Company decreased their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Evercore ISI upped their price target on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and raised their price objective for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Leerink Partners assumed coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 price target on the stock. Finally, William Blair raised Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $145.22.

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.