Abbott Laboratories $ABT Shares Acquired by ICONIQ Capital LLC

Key Points

• ICONIQ Capital LLC increased its stake in Abbott Laboratories by 23.7% in Q1, now holding shares worth approximately $1.43 million.
• Several analysts have recently adjusted their price targets for Abbott, with a consensus target of $144.47 and multiple ratings including "strong-buy" and "buy".
• Abbott Laboratories declared a quarterly dividend of $0.59 per share, reflecting an annualized yield of 1.8% and a dividend payout ratio of 29.57%.

ICONIQ Capital LLC grew its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 23.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,798 shares of the healthcare product maker's stock after acquiring an additional 2,072 shares during the period. ICONIQ Capital LLC's holdings in Abbott Laboratories were worth $1,432,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ABT. Brighton Jones LLC increased its holdings in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after acquiring an additional 4,755 shares during the period. Bank Pictet & Cie Europe AG grew its stake in Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after purchasing an additional 2,774 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in Abbott Laboratories by 3.7% in the fourth quarter. Integrated Wealth Concepts LLC now owns 36,987 shares of the healthcare product maker's stock worth $4,184,000 after purchasing an additional 1,330 shares in the last quarter. Capital Analysts LLC lifted its position in shares of Abbott Laboratories by 3.9% during the fourth quarter. Capital Analysts LLC now owns 88,675 shares of the healthcare product maker's stock valued at $10,030,000 after buying an additional 3,314 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its position in shares of Abbott Laboratories by 6.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 72,346 shares of the healthcare product maker's stock worth $8,183,000 after buying an additional 4,063 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the 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 represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ABT shares. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and raised their target price for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Royal Bank Of Canada boosted their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Wells Fargo & Company decreased their price target 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. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Finally, Leerink Partners assumed coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

Abbott Laboratories Stock Performance

Shares of ABT traded up $0.01 during mid-day trading on Thursday, reaching $131.47. The company had a trading volume of 4,669,822 shares, compared to its average volume of 6,768,362. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The stock has a market capitalization of $228.81 billion, a P/E ratio of 16.47, a PEG ratio of 2.50 and a beta of 0.70. The stock has a 50 day moving average of $131.01 and a two-hundred day moving average of $131.33. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted 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 net margin of 32.43% and a return on equity of 18.32%. The firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the firm earned $1.14 EPS. The business's quarterly 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. On average, analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 15th. Abbott Laboratories's dividend payout ratio is currently 29.57%.

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.