GAMMA Investing LLC Purchases 7,180 Shares of Abbott Laboratories $ABT

Key Points

• GAMMA Investing LLC increased its holdings in Abbott Laboratories by 18.7%, owning 45,647 shares valued at $6,208,000 after adding 7,180 shares in the second quarter.
• Abbott Laboratories reported $1.26 earnings per share for the last quarter, meeting analysts' expectations, and experienced a 7.4% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.59 per share, with an annualized amount of $2.36 and a yield of 1.7%, to be paid on November 17th.

GAMMA Investing LLC raised its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 18.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,647 shares of the healthcare product maker's stock after acquiring an additional 7,180 shares during the period. GAMMA Investing LLC's holdings in Abbott Laboratories were worth $6,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Nuveen LLC bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $1,658,180,000. Goldman Sachs Group Inc. lifted its holdings in Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock worth $2,120,516,000 after buying an additional 3,616,471 shares during the period. Wellington Management Group LLP increased its position in shares of Abbott Laboratories by 12.8% during the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock valued at $3,948,117,000 after acquiring an additional 3,371,113 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Abbott Laboratories by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker's stock valued at $1,916,966,000 after acquiring an additional 1,639,954 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Abbott Laboratories in the 4th quarter worth $158,119,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ABT. Royal Bank Of Canada increased their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their price target for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Raymond James Financial cut their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Evercore ISI raised their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, BTIG Research decreased their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company 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 given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $145.22.

Abbott Laboratories Trading Up 0.6%

ABT stock traded up $0.78 during mid-day trading on Monday, reaching $136.82. The company's stock had a trading volume of 4,837,007 shares, compared to its average volume of 5,199,671. The business's 50 day moving average price is $130.56 and its 200 day moving average price is $131.11. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company has a market cap of $238.13 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 2.58 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued 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. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. During the same period in the prior year, the business posted $1.14 EPS. Abbott Laboratories's quarterly revenue was up 7.4% compared to the same quarter last year. 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, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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 paid a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.7%. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction that occurred 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 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 legal filing with the SEC, which is accessible through this link. 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.