Monument Capital Management Increases Stock Holdings in Abbott Laboratories $ABT

Key Points

• Monument Capital Management increased its holdings in Abbott Laboratories by 84.8% during Q2, owning a total of 4,209 shares valued at approximately $572,000.
• Abbott Laboratories recently reported quarterly earnings of $1.26 per share and revenue of $11.14 billion, exceeding analysts' expectations and reflecting a 7.4% year-over-year growth.
• The company announced a quarterly dividend of $0.59 to be paid on November 17th, representing an annual yield of 1.8%.

Monument Capital Management lifted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 84.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,209 shares of the healthcare product maker's stock after purchasing an additional 1,931 shares during the quarter. Monument Capital Management's holdings in Abbott Laboratories were worth $572,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ABT. Nuveen LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at about $1,658,180,000. Goldman Sachs Group Inc. lifted its position in Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock valued at $2,120,516,000 after buying an additional 3,616,471 shares during the last quarter. Wellington Management Group LLP lifted its position in Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock valued at $3,948,117,000 after buying an additional 3,371,113 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Abbott Laboratories by 12.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker's stock valued at $1,916,966,000 after buying an additional 1,639,954 shares during the last quarter. Finally, Jensen Investment Management Inc. lifted its position in Abbott Laboratories by 1,221.2% in the first quarter. Jensen Investment Management Inc. now owns 1,365,785 shares of the healthcare product maker's stock valued at $181,171,000 after buying an additional 1,262,407 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ABT shares. Wells Fargo & Company decreased their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Evercore ISI upped their target price on shares of Abbott Laboratories from $140.00 to $144.00 and gave the company an "outperform" rating in a research report on Tuesday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Abbott Laboratories in a research report on Wednesday. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Finally, Morgan Stanley increased their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Two 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $146.24.

Insiders Place Their Bets

In related 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 value of $746,752.50. Following the sale, the chief financial officer owned 51,003 shares of the company's stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Down 0.8%

Shares of ABT opened at $133.24 on Friday. The stock has a market capitalization of $231.90 billion, a PE ratio of 16.70, a P/E/G ratio of 2.55 and a beta of 0.69. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The company's 50-day simple moving average is $132.44 and its 200-day simple moving average is $131.52.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. The business 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 business's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior 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. Analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors 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 yield of 1.8%. Abbott Laboratories's dividend payout ratio (DPR) is 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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