Northstar Group Inc. Acquires 8,255 Shares of Abbott Laboratories $ABT

Key Points

• Northstar Group Inc. increased its holdings in Abbott Laboratories by 121.8% during the 2nd quarter, owning a total of 15,030 shares valued at approximately $2,044,000.
• The company reported earnings of $1.26 per share for the most recent quarter, matching analysts' expectations, and its revenue increased 7.4% year-over-year to $11.14 billion.
• Abbott Laboratories announced a quarterly dividend of $0.59, resulting in an annualized yield of 1.8%, with a payout ratio of 29.57%.

Northstar Group Inc. boosted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 121.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,030 shares of the healthcare product maker's stock after buying an additional 8,255 shares during the period. Northstar Group Inc.'s holdings in Abbott Laboratories were worth $2,044,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new position in Abbott Laboratories in the 1st quarter worth approximately $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $30,000. JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $32,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $33,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $133.53 on Thursday. The business's fifty day moving average price is $131.63 and its two-hundred day moving average price is $131.24. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The stock has a market capitalization of $232.39 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $11.01 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The business's revenue 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, analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Analyst Ratings Changes

ABT has been the topic of a number of research reports. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Leerink Partners initiated coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective on the stock. BTIG Research lowered their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Mizuho boosted their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, The Goldman Sachs Group boosted their price objective on Abbott Laboratories from $153.00 to $157.00 and gave the company a "buy" rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $145.39.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction on Friday, August 8th. The stock was 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. The trade was 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 hyperlink. Corporate 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.

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