Knights of Columbus Asset Advisors LLC Takes $329,000 Position in Abbott Laboratories $ABT

Key Points

• Knights of Columbus Asset Advisors LLC has taken a new position in Abbott Laboratories, purchasing 2,422 shares worth approximately $329,000 during the second quarter.
• Multiple institutional investors, including Consilium Wealth Advisory LLC and FF Advisors LLC, have recently increased their holdings in Abbott Laboratories, indicating strong institutional interest.
• Abbott Laboratories has a consensus rating of "Moderate Buy" from analysts, with an average target price of $146.24, reflecting positive sentiment about the company's future performance.

Knights of Columbus Asset Advisors LLC purchased a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,422 shares of the healthcare product maker's stock, valued at approximately $329,000.

A number of other institutional investors also recently modified their holdings of the company. Consilium Wealth Advisory LLC lifted its holdings in shares of Abbott Laboratories by 2.1% in the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock valued at $507,000 after purchasing an additional 78 shares in the last quarter. Mayflower Financial Advisors LLC raised its holdings in Abbott Laboratories by 0.5% during the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock worth $2,298,000 after acquiring an additional 78 shares in the last quarter. FF Advisors LLC raised its holdings in Abbott Laboratories by 4.3% during the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker's stock worth $259,000 after acquiring an additional 79 shares in the last quarter. Charles Schwab Trust Co raised its holdings in Abbott Laboratories by 0.6% during the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker's stock worth $1,907,000 after acquiring an additional 79 shares in the last quarter. Finally, Opes Wealth Management LLC raised its holdings in Abbott Laboratories by 2.9% during the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock worth $379,000 after acquiring an additional 80 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Abbott Laboratories from $153.00 to $157.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Abbott Laboratories in a report on Saturday, September 27th. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and upped their target price for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Leerink Partners started coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 price objective on the stock. Finally, Raymond James Financial dropped their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $146.24.

Abbott Laboratories Price Performance

NYSE:ABT opened at $133.05 on Wednesday. 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's 50 day moving average price is $132.19 and its two-hundred day moving average price is $131.45. The firm has a market capitalization of $231.58 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 2.54 and a beta of 0.69. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts' consensus estimates of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. 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 anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 1.8%. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

Insider Buying and Selling at Abbott Laboratories

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

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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