McKinley Carter Wealth Services Inc. Purchases 15,362 Shares of Abbott Laboratories $ABT

Key Points

• McKinley Carter Wealth Services Inc. increased its stake in Abbott Laboratories by 257.3%, purchasing an additional 15,362 shares during the second quarter.
• Abbott Laboratories reported a quarterly earnings per share (EPS) of $1.26, meeting analysts' expectations, and showed a revenue increase of 7.4% year-over-year.
• The company's quarterly dividend of $0.59 per share has been announced, with a payment date set for November 17, indicating a yield of 1.8%.

McKinley Carter Wealth Services Inc. boosted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 257.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,332 shares of the healthcare product maker's stock after purchasing an additional 15,362 shares during the quarter. McKinley Carter Wealth Services Inc.'s holdings in Abbott Laboratories were worth $2,901,000 at the end of the most recent quarter.

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

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction dated 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 directly owned 51,003 shares of the company's stock, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.46% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ABT shares. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their price objective for the company from $143.00 to $145.00 in a report on Friday, July 18th. Leerink Partners started coverage on Abbott Laboratories in a report on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective for the company. Wells Fargo & Company dropped their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Raymond James Financial dropped their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Abbott Laboratories in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $146.24.

Abbott Laboratories Trading Down 0.8%

ABT opened at $133.24 on Friday. The firm has a market cap of $231.90 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 2.55 and a beta of 0.69. 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 12 month low of $110.86 and a 12 month high of $141.23. The stock has a fifty day moving average price of $132.44 and a 200-day moving average price of $131.52.

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

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio is currently 29.57%.

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.

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