Abbott Laboratories $ABT Stock Position Raised by Oak Harvest Investment Services

Key Points

• Oak Harvest Investment Services increased its stake in Abbott Laboratories by 42.6%, now holding 64,526 shares valued at approximately $8.56 million.
• Abbott Laboratories reported $1.26 EPS for the latest quarter, meeting expectations, with a revenue of $11.14 billion, which is a 7.4% increase from the previous year.
• The company recently declared a quarterly dividend of $0.59, yielding approximately 1.8% annually, with a payout ratio of 29.57%.

Oak Harvest Investment Services increased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 42.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,526 shares of the healthcare product maker's stock after buying an additional 19,280 shares during the quarter. Abbott Laboratories comprises approximately 1.2% of Oak Harvest Investment Services' portfolio, making the stock its 28th biggest holding. Oak Harvest Investment Services' holdings in Abbott Laboratories were worth $8,559,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hughes Financial Services LLC purchased a new stake in Abbott Laboratories in the first quarter valued at approximately $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at $28,000. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth $30,000. Wormser Freres Gestion acquired a new position in Abbott Laboratories in the fourth quarter valued at $32,000. Finally, JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories during the first quarter worth about $32,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and increased their price objective for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Leerink Partners assumed coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They set a "market perform" rating and a $143.00 target price on the stock. Mizuho increased their price target on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Finally, Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $144.47.

Abbott Laboratories Stock Up 0.0%

NYSE:ABT traded up $0.01 during mid-day trading on Thursday, reaching $131.47. The stock had a trading volume of 4,669,822 shares, compared to its average volume of 6,768,362. The stock's 50 day simple moving average is $131.01 and its two-hundred day simple moving average is $131.33. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The company has a market capitalization of $228.81 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 2.50 and a beta of 0.70. 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 released its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts' consensus estimates 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 the consensus estimate of $11.01 billion. During the same quarter last year, the business posted $1.14 EPS. Abbott Laboratories's quarterly 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. Equities analysts anticipate 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 was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction dated 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 directly owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by insiders.

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.