Franklin Street Advisors Inc. NC Purchases 1,919 Shares of Abbott Laboratories $ABT

Key Points

• Franklin Street Advisors Inc. NC increased its holdings in Abbott Laboratories by 24.3%, acquiring an additional 1,919 shares to total 9,800 shares worth approximately $1.33 million.
• Abbott Laboratories reported earnings of $1.26 per share for the most recent quarter, meeting analyst expectations, and its revenue grew by 7.4% year-over-year to $11.14 billion.
• The company announced a quarterly dividend of $0.59 per share, representing an annualized yield of 1.8%, with a payout ratio of 29.57%.

Franklin Street Advisors Inc. NC increased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 24.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,800 shares of the healthcare product maker's stock after buying an additional 1,919 shares during the period. Franklin Street Advisors Inc. NC's holdings in Abbott Laboratories were worth $1,333,000 at the end of the most recent reporting period.

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

Abbott Laboratories Trading Up 1.1%

Shares of Abbott Laboratories stock opened at $134.49 on Friday. The stock has a market capitalization of $234.07 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. 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 50-day simple moving average of $131.94 and a 200 day simple moving average of $131.33. 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 announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 analysts' expectations of $11.01 billion. During the same quarter last year, the company posted $1.14 EPS. The firm's revenue for the quarter 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. Research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABT. Weiss Ratings reiterated a "buy (b)" rating on shares of Abbott Laboratories in a research note on Saturday, September 27th. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Evercore ISI increased their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Raymond James Financial dropped their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $145.39.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm'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 completion of the sale, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.46% of the company's stock.

About Abbott Laboratories

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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