Korea Investment CORP Has $190.15 Million Stock Position in Abbott Laboratories $ABT

Key Points

• Korea Investment CORP has increased its stake in Abbott Laboratories by 8.0%, acquiring an additional 105,870 shares, bringing its total ownership to 1,433,496 shares valued at approximately $190.15 million.
• Abbott Laboratories reported quarterly earnings of $1.26 EPS, meeting analyst expectations, with revenue of $11.14 billion, representing a 7.4% year-over-year increase.
• The company recently declared a quarterly dividend of $0.59 per share, resulting in an annualized dividend of $2.36 and a yield of 1.8%.

Korea Investment CORP lifted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 8.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,433,496 shares of the healthcare product maker's stock after buying an additional 105,870 shares during the period. Korea Investment CORP owned about 0.08% of Abbott Laboratories worth $190,153,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ABT. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at $30,000. Wormser Freres Gestion bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at $32,000. Finally, JCIC Asset Management Inc. bought a new position in Abbott Laboratories during the 1st quarter worth about $32,000. Institutional investors own 75.18% of the company's stock.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm's 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 directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research reports. Mizuho increased their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Wells Fargo & Company lowered their target price on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Leerink Partners initiated coverage on Abbott Laboratories in a report on Monday, June 16th. They set a "market perform" rating and a $143.00 target price for the company. Finally, Raymond James Financial lowered 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. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

Abbott Laboratories Stock Up 0.3%

Shares of NYSE ABT traded up $0.4120 during mid-day trading on Friday, hitting $132.4120. The company had a trading volume of 4,130,154 shares, compared to its average volume of 5,721,513. The company has a market capitalization of $230.46 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 2.50 and a beta of 0.70. The firm has a 50-day simple moving average of $131.08 and a two-hundred day simple moving average of $131.29. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced 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. The company had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.Abbott Laboratories's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 EPS. 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, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced 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 was Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

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.