Forvis Mazars Wealth Advisors LLC Increases Stake in Abbott Laboratories $ABT

Key Points

• Forvis Mazars Wealth Advisors LLC has increased its holdings in Abbott Laboratories by 62.5%, acquiring an additional 8,232 shares, bringing their total to 21,413 shares valued at $2,840,000.
• Abbott Laboratories reported a quarterly earnings per share (EPS) of $1.26, meeting analyst expectations, with revenues of $11.14 billion, up 7.4% from the same quarter last year.
• The company declared a quarterly dividend of $0.59 per share, yielding 1.8%, with a current dividend payout ratio of 29.57%.

Forvis Mazars Wealth Advisors LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 62.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,413 shares of the healthcare product maker's stock after purchasing an additional 8,232 shares during the period. Forvis Mazars Wealth Advisors LLC's holdings in Abbott Laboratories were worth $2,840,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after buying an additional 4,755 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after purchasing an additional 2,774 shares in the last quarter. GeoWealth Management LLC raised its holdings in Abbott Laboratories by 8.7% in the 4th quarter. GeoWealth Management LLC now owns 16,568 shares of the healthcare product maker's stock worth $1,874,000 after purchasing an additional 1,327 shares during the period. Freedom Investment Management Inc. lifted its position in Abbott Laboratories by 4.8% during the fourth quarter. Freedom Investment Management Inc. now owns 8,803 shares of the healthcare product maker's stock valued at $996,000 after purchasing an additional 407 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Abbott Laboratories by 20.9% in the fourth quarter. First Trust Advisors LP now owns 719,317 shares of the healthcare product maker's stock worth $81,362,000 after buying an additional 124,259 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

NYSE ABT traded up $1.0530 on Wednesday, reaching $132.3030. The company had a trading volume of 3,639,775 shares, compared to its average volume of 6,846,146. The stock has a market capitalization of $230.27 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 2.47 and a beta of 0.70. Abbott Laboratories has a 12 month low of $110.68 and a 12 month high of $141.23. 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 firm's 50 day moving average price is $131.28 and its 200 day moving average price is $131.24.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS 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 business had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The business'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. As a group, equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

Insider Activity 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 shares were 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 in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Evercore ISI raised 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. Wells Fargo & Company dropped 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. Finally, BTIG Research decreased their price target on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and an average target price of $144.47.

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.