Kayne Anderson Rudnick Investment Management LLC Acquires 48,097 Shares of Abbott Laboratories $ABT

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Abbott Laboratories by 268.5%, acquiring an additional 48,097 shares, bringing its total holdings to 66,007 shares valued at approximately $8.76 million.
• Abbott Laboratories recently announced a quarterly dividend of $0.59 per share, which equates to an annualized yield of 1.8% and a payout ratio of 29.57%.
• After a series of analyst ratings, the consensus rating for Abbott Laboratories has shifted to a "Moderate Buy" with a target price of $144.47, indicating ongoing interest and confidence in the stock's performance.

Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 268.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,007 shares of the healthcare product maker's stock after buying an additional 48,097 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Abbott Laboratories were worth $8,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kelly Financial Services LLC bought a new stake in Abbott Laboratories during the 1st quarter worth about $216,000. Voleon Capital Management LP bought a new stake in Abbott Laboratories during the 4th quarter worth about $273,000. Bank Pictet & Cie Europe AG raised its holdings in 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 worth $17,274,000 after purchasing an additional 2,774 shares during the last quarter. Edge Financial Advisors LLC raised its holdings in Abbott Laboratories by 3.3% during the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock worth $336,000 after purchasing an additional 81 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Abbott Laboratories by 6.5% during the 4th quarter. Ameriprise Financial Inc. now owns 12,865,656 shares of the healthcare product maker's stock worth $1,451,032,000 after purchasing an additional 781,264 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Abbott Laboratories 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 transaction of $746,752.50. Following the completion of the transaction, the chief financial officer owned 51,003 shares of the company's stock, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Price Performance

Shares of ABT opened at $132.0240 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The stock has a 50 day simple moving average of $131.04 and a 200 day simple moving average of $131.33. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The firm has a market capitalization of $229.78 billion, a PE ratio of 16.54, a P/E/G ratio of 2.51 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) 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 business 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. 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. Sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Raymond James Financial dropped their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. 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 report on Tuesday, July 15th. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their target price for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Finally, BTIG Research decreased their target price on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

Abbott Laboratories 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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