IMS Capital Management Purchases Shares of 9,004 Abbott Laboratories $ABT

Key Points

• IMS Capital Management acquired a new stake in Abbott Laboratories, purchasing 9,004 shares valued at approximately $1,225,000.
• Abbott Laboratories reported earnings of $1.26 per share, matching consensus estimates, with quarterly revenue of $11.14 billion, exceeding expectations.
• The company announced a quarterly dividend of $0.59 per share, with the ex-dividend date set for October 15th, representing a 1.7% yield.

IMS Capital Management acquired a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,004 shares of the healthcare product maker's stock, valued at approximately $1,225,000.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake 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 worth $5,850,000 after buying an additional 4,755 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after acquiring an additional 2,774 shares in the last quarter. Great Valley Advisor Group Inc. increased its stake in Abbott Laboratories by 0.8% in the fourth quarter. Great Valley Advisor Group Inc. now owns 25,102 shares of the healthcare product maker's stock valued at $2,839,000 after acquiring an additional 200 shares during the period. Armis Advisers LLC acquired a new position in Abbott Laboratories in the fourth quarter worth about $202,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Abbott Laboratories during the fourth quarter valued at approximately $158,119,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABT has been the subject of a number of recent research reports. Raymond James Financial dropped their target price on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Morgan Stanley lifted their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Wells Fargo & Company lowered their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Finally, Leerink Partners started coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target on the stock. Two 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $145.22.

Insider Buying and Selling

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

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $135.82 on Wednesday. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The stock has a 50-day simple moving average of $130.65 and a 200 day simple moving average of $131.15. 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 stock has a market capitalization of $236.39 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 2.59 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $11.01 billion. During the same quarter last year, the company posted $1.14 EPS. The company'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, research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders 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 annualized dividend and a yield of 1.7%. 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.

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