Lyell Wealth Management LP Raises Stake in Abbott Laboratories $ABT

Key Points

• Lyell Wealth Management LP increased its stake in Abbott Laboratories by 7.9% in the second quarter, owning 64,861 shares valued at approximately $8.82 million by quarter's end.
• Analysts have a consensus rating of "Moderate Buy" for Abbott Laboratories, with target prices ranging from $140.00 to $157.00 across various firms.
• Abbott Laboratories announced a quarterly dividend of $0.59 per share, representing an annualized yield of 1.8%.

Lyell Wealth Management LP lifted its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 7.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,861 shares of the healthcare product maker's stock after buying an additional 4,733 shares during the quarter. Lyell Wealth Management LP's holdings in Abbott Laboratories were worth $8,822,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avanza Fonder AB grew its holdings in Abbott Laboratories by 0.4% in the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker's stock valued at $22,904,000 after purchasing an additional 655 shares during the period. Madrona Financial Services LLC grew its holdings in Abbott Laboratories by 9.7% in the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker's stock valued at $235,000 after purchasing an additional 152 shares during the period. Janney Montgomery Scott LLC grew its holdings in Abbott Laboratories by 12.4% in the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker's stock valued at $91,109,000 after purchasing an additional 73,780 shares during the period. SageView Advisory Group LLC grew its holdings in Abbott Laboratories by 18.6% in the first quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker's stock valued at $2,427,000 after purchasing an additional 2,873 shares during the period. Finally, Cerity Partners LLC grew its holdings in Abbott Laboratories by 49.8% in the first quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker's stock valued at $199,939,000 after purchasing an additional 501,200 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ABT. Royal Bank Of Canada restated an "outperform" rating and issued a $147.00 target price on shares of Abbott Laboratories in a report on Thursday. Sanford C. Bernstein boosted their price objective on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday. The Goldman Sachs Group boosted their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Mizuho boosted their price objective on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $147.61.

Abbott Laboratories Trading Up 0.8%

NYSE ABT opened at $128.69 on Monday. The company's fifty day simple moving average is $132.38 and its 200-day simple moving average is $131.54. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The stock has a market cap of $223.98 billion, a P/E ratio of 16.13, a PEG ratio of 2.44 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts' consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business had revenue of $11.37 billion for the quarter, compared to analysts' expectations of $11.40 billion. During the same period in the previous year, the company posted $1.21 earnings per share. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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 given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's payout ratio is presently 29.57%.

Insider Transactions at Abbott Laboratories

In related 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 sale, the chief financial officer directly owned 51,003 shares of the company's stock, valued at $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.

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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