OMERS ADMINISTRATION Corp Reduces Holdings in Abbott Laboratories $ABT

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Abbott Laboratories by 0.3%, selling 2,829 shares, resulting in ownership of approximately 1,012,549 shares worth about $134.3 million.
• Several hedge funds have increased their holdings in Abbott Laboratories, with B. Metzler seel. Sohn & Co. AG raising its position by 87.5% in the first quarter.
• Abbott Laboratories recently announced a quarterly dividend of $0.59, representing an annualized yield of 1.8% and a payout ratio of 29.57%.

OMERS ADMINISTRATION Corp lowered its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 0.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,012,549 shares of the healthcare product maker's stock after selling 2,829 shares during the period. Abbott Laboratories makes up 1.2% of OMERS ADMINISTRATION Corp's holdings, making the stock its 25th biggest holding. OMERS ADMINISTRATION Corp owned 0.06% of Abbott Laboratories worth $134,315,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ABT. Nuveen LLC bought a new stake in shares of Abbott Laboratories during the first quarter worth $1,658,180,000. GAMMA Investing LLC raised its stake in shares of Abbott Laboratories by 15,420.4% during the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock valued at $676,866,000 after acquiring an additional 5,069,771 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock worth $2,120,516,000 after purchasing an additional 3,616,471 shares during the last quarter. Wellington Management Group LLP raised its position in Abbott Laboratories by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock worth $3,948,117,000 after purchasing an additional 3,371,113 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Abbott Laboratories by 12.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker's stock worth $1,916,966,000 after acquiring an additional 1,639,954 shares during the last quarter. Institutional investors own 75.18% of the company's stock.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction 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 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 Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Stock Up 0.9%

Shares of NYSE ABT traded up $1.22 during midday trading on Monday, hitting $132.59. 4,430,637 shares of the stock traded hands, compared to its average volume of 5,346,421. The company has a market cap of $230.76 billion, a PE ratio of 16.61, a P/E/G ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The business has a 50 day moving average price of $130.99 and a two-hundred day moving average price of $131.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.Abbott Laboratories's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm 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. On average, equities analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories's payout ratio is currently 29.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and raised their price objective for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Morgan Stanley raised their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Leerink Partners began coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price for the company. Finally, Mizuho lifted their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and an average target price of $144.47.

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.