Livforsakringsbolaget Skandia Omsesidigt Purchases 6,300 Shares of Abbott Laboratories $ABT

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Abbott Laboratories by 14.6% in the second quarter, acquiring an additional 6,300 shares, bringing their total holdings to 49,436 shares valued at approximately $6.72 million.
• Insider trading activity showed the CFO, Philip P. Boudreau, sold 5,550 shares at an average price of $134.55, resulting in a 9.81% reduction of their stake, leaving them with 51,003 shares valued around $6.86 million.
• Abbott Laboratories reported earnings of $1.26 per share for the last quarter, matching analysts' expectations, and forecasted FY 2025 EPS guidance of between $5.100 and $5.200.

Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 14.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,436 shares of the healthcare product maker's stock after purchasing an additional 6,300 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Abbott Laboratories were worth $6,720,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABT. Kelly Financial Services LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter valued at about $216,000. Bank Pictet & Cie Europe AG raised its position in Abbott Laboratories by 1.9% in 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 purchasing an additional 2,774 shares during the last quarter. Edge Financial Advisors LLC raised its position in Abbott Laboratories by 3.3% in the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after purchasing an additional 81 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Abbott Laboratories in the 4th quarter valued at $84,418,000. Finally, SageView Advisory Group LLC increased its stake in shares of Abbott Laboratories by 18.6% in the 1st quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker's stock valued at $2,427,000 after buying an additional 2,873 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Raymond James Financial decreased their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, July 18th. Morgan Stanley boosted their price target on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Mizuho boosted their price target on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Wells Fargo & Company dropped their target price on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Finally, 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 on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $145.22.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded up $0.78 during midday trading on Monday, reaching $136.82. The company's stock had a trading volume of 4,836,851 shares, compared to its average volume of 6,659,040. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The firm has a 50 day moving average price of $130.47 and a 200-day moving average price of $131.12. The stock has a market capitalization of $238.13 billion, a P/E ratio of 17.15, a PEG ratio of 2.58 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 EPS for the quarter, meeting the consensus estimate of $1.26. The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business 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. As a group, equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.7%. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company's stock.

Abbott Laboratories Company 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.