Novem Group Increases Holdings in Abbott Laboratories $ABT

Key Points

• Novem Group has increased its holdings in Abbott Laboratories by 171.2% in the second quarter, now owning 10,917 shares valued at approximately $1.485 million.
• Abbott Laboratories reported $1.26 EPS for the latest quarter, matching consensus estimates, with a net margin of 32.43% and revenue of $11.14 billion.
• The company declared a quarterly dividend of $0.59 per share to be paid on November 17th, representing an annualized yield of 1.8%.

Novem Group grew its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 171.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,917 shares of the healthcare product maker's stock after buying an additional 6,892 shares during the period. Novem Group's holdings in Abbott Laboratories were worth $1,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ABT. Nuveen LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $1,658,180,000. GAMMA Investing LLC lifted its holdings in shares of Abbott Laboratories by 15,420.4% in the 1st quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock valued at $676,866,000 after purchasing an additional 5,069,771 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Abbott Laboratories by 29.2% in the 1st 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 purchasing an additional 3,616,471 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Abbott Laboratories by 12.8% in the 1st 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 purchasing an additional 3,371,113 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Abbott Laboratories by 12.8% in the 1st 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 purchasing an additional 1,639,954 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABT has been the subject of several research reports. Evercore ISI boosted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Leerink Partners initiated coverage on Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective for the company. Wells Fargo & Company reduced their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Finally, Royal Bank Of Canada upped their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $145.22.

Abbott Laboratories Stock Performance

NYSE ABT opened at $133.38 on Friday. 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 business's 50 day moving average is $130.94 and its two-hundred day moving average is $131.14. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The stock has a market capitalization of $232.13 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.54 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its 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. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The firm's quarterly revenue was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction that occurred on 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 owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company's stock.

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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