McAdam LLC Lowers Stock Position in Abbott Laboratories $ABT

Key Points

• McAdam LLC has reduced its stake in Abbott Laboratories by 47.4%, now holding 2,403 shares worth approximately $319,000.
• Abbott Laboratories reported $1.26 EPS for the last quarter, matching analyst expectations, with revenue of $11.14 billion, a 7.4% increase year-over-year.
• Abbott recently announced a quarterly dividend of $0.59 per share, representing an annual yield of 1.8%.

McAdam LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 47.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,403 shares of the healthcare product maker's stock after selling 2,169 shares during the quarter. McAdam LLC's holdings in Abbott Laboratories were worth $319,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hughes Financial Services LLC purchased a new position in Abbott Laboratories during the first quarter worth about $27,000. Abound Financial LLC purchased a new position in Abbott Laboratories during the first quarter worth about $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories during the first quarter worth about $30,000. JCIC Asset Management Inc. purchased a new position in Abbott Laboratories during the first quarter worth about $32,000. Finally, Vision Financial Markets LLC purchased a new position in Abbott Laboratories during the first quarter worth about $33,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Down 1.9%

Shares of NYSE:ABT opened at $129.39 on Thursday. The firm's 50 day moving average price is $130.43 and its 200 day moving average price is $131.35. The stock has a market cap of $225.20 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 2.50 and a beta of 0.69. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results 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 firm had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm's 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. As a group, equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were issued 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 (DPR) is presently 29.57%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on ABT shares. Leerink Partners started coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 price objective for the company. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and raised their price objective for the company from $143.00 to $145.00 in a research note on Friday, July 18th. BTIG Research lowered their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Royal Bank Of Canada raised their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Two 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's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $144.47.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.