Hoese & Co LLP Acquires 2,000 Shares of Abbott Laboratories $ABT

Key Points

• Hoese & Co LLP increased its stake in Abbott Laboratories by 444.4%, acquiring an additional 2,000 shares, bringing its total holdings to 2,450 shares valued at approximately $333,000.
• Abbott Laboratories reported $1.30 earnings per share for the quarter, matching analyst expectations, with revenues of $11.37 billion, slightly below estimates.
• The company announced a quarterly dividend of $0.59 per share to be paid on November 17th, representing an annualized yield of 1.8%.

Hoese & Co LLP grew its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 444.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,450 shares of the healthcare product maker's stock after acquiring an additional 2,000 shares during the quarter. Abbott Laboratories comprises approximately 0.3% of Hoese & Co LLP's portfolio, making the stock its 24th biggest position. Hoese & Co LLP's holdings in Abbott Laboratories were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ABT. Foster & Motley Inc. grew its stake in shares of Abbott Laboratories by 10.7% in the second quarter. Foster & Motley Inc. now owns 4,506 shares of the healthcare product maker's stock worth $613,000 after acquiring an additional 435 shares during the period. Huntleigh Advisors Inc. lifted its position in shares of Abbott Laboratories by 21.7% during the 2nd quarter. Huntleigh Advisors Inc. now owns 20,454 shares of the healthcare product maker's stock valued at $2,782,000 after buying an additional 3,644 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its stake in shares of Abbott Laboratories by 1.0% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 949,801 shares of the healthcare product maker's stock valued at $129,182,000 after buying an additional 9,062 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of Abbott Laboratories by 1.4% in the second quarter. Stratos Wealth Partners LTD. now owns 109,462 shares of the healthcare product maker's stock worth $14,888,000 after acquiring an additional 1,551 shares during the period. Finally, Angeles Wealth Management LLC grew its holdings in Abbott Laboratories by 8.0% during the 2nd quarter. Angeles Wealth Management LLC now owns 10,800 shares of the healthcare product maker's stock valued at $1,469,000 after buying an additional 801 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $128.69 on Friday. The company has a fifty day simple moving average of $132.38 and a 200-day simple moving average of $131.54. 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 has a market capitalization of $223.98 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.42 and a beta of 0.69. 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 quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting analysts' consensus estimates of $1.30. The business had revenue of $11.37 billion during the quarter, compared to analysts' expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the business earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS 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. Investors of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories's payout ratio is currently 29.57%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ABT. Barclays increased their target price on Abbott Laboratories from $159.00 to $162.00 and gave the company an "overweight" rating in a research report on Friday. Evercore ISI decreased their price target on Abbott Laboratories from $144.00 to $142.00 and set an "outperform" rating for the company in a research note on Wednesday. The Goldman Sachs Group upped their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Royal Bank Of Canada restated an "outperform" rating and set a $147.00 price target on shares of Abbott Laboratories in a research note on Thursday. Finally, William Blair raised Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.61.

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by company insiders.

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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