Abbott Laboratories $ABT Shares Acquired by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC increased its stake in Abbott Laboratories by 2.0%, acquiring an additional 2,007 shares, bringing its total holdings to 101,340 shares valued at approximately $13.78 million.
• Abbott Laboratories reported a quarterly earnings per share of $1.26, exceeding analysts' expectations and reflecting a 7.4% revenue increase year-over-year.
• Multiple investment firms, including Goldman Sachs and Royal Bank of Canada, have upgraded their ratings and price targets for Abbott Laboratories, indicating strong investor interest and confidence in the company's future performance.

Pallas Capital Advisors LLC increased its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 101,340 shares of the healthcare product maker's stock after purchasing an additional 2,007 shares during the quarter. Pallas Capital Advisors LLC's holdings in Abbott Laboratories were worth $13,783,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock worth $5,850,000 after buying an additional 4,755 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after buying an additional 2,774 shares in the last quarter. Vident Advisory LLC boosted its holdings in shares of Abbott Laboratories by 30.2% in the 4th quarter. Vident Advisory LLC now owns 34,899 shares of the healthcare product maker's stock worth $3,948,000 after purchasing an additional 8,098 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Abbott Laboratories in the 4th quarter worth about $5,997,000. Finally, Williams Jones Wealth Management LLC. boosted its holdings in shares of Abbott Laboratories by 1.9% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 177,705 shares of the healthcare product maker's stock worth $20,100,000 after purchasing an additional 3,393 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Raymond James Financial cut their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Evercore ISI upped their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Morgan Stanley boosted their target price on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, BTIG Research lowered their target price on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $145.22.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

Shares of ABT stock traded up $1.65 on Friday, reaching $136.22. The stock had a trading volume of 11,531,874 shares, compared to its average volume of 4,828,819. The stock has a market cap of $237.09 billion, a P/E ratio of 17.07, a price-to-earnings-growth ratio of 2.58 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 has a 50 day simple moving average of $130.47 and a 200 day simple moving average of $131.14.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced 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 analysts' expectations of $11.01 billion. During the same period last year, the firm earned $1.14 EPS. Abbott Laboratories's revenue for the quarter 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 research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's payout ratio 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.