Abbott Laboratories $ABT Shares Bought by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC increased its stake in Abbott Laboratories by 15.9% during the 2nd quarter, bringing its total holdings to 91,352 shares valued at approximately $12.4 million.
• Abbott Laboratories reported $11.14 billion in revenue for the last quarter, exceeding analyst expectations, with earnings per share matching estimates at $1.26.
• The company has declared a quarterly dividend of $0.59 per share, which will be paid on November 17, with an annualized yield of 1.7%.

Park Avenue Securities LLC boosted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 15.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,352 shares of the healthcare product maker's stock after buying an additional 12,523 shares during the quarter. Park Avenue Securities LLC's holdings in Abbott Laboratories were worth $12,425,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ABT. Nuveen LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $1,658,180,000. GAMMA Investing LLC lifted its position in shares of Abbott Laboratories by 15,420.4% in the first quarter. GAMMA Investing LLC now owns 5,102,648 shares of the healthcare product maker's stock worth $676,866,000 after purchasing an additional 5,069,771 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Abbott Laboratories by 29.2% in the first 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 period. Wellington Management Group LLP boosted its stake 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Abbott Laboratories by 12.8% during the 1st 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 purchasing an additional 1,639,954 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company'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 sale, the chief financial officer directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ABT. Evercore ISI increased their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Morgan Stanley boosted their price target on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada increased their price target on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Leerink Partners began coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target for the company. Finally, Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $145.22.

Abbott Laboratories Stock Up 1.2%

Shares of ABT stock traded up $1.65 during trading on Friday, reaching $136.22. The company's stock had a trading volume of 11,531,874 shares, compared to its average volume of 5,199,671. The company has a market cap of $237.09 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.58 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 fifty day moving average price of $130.47 and a 200-day moving average price of $131.12. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly 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. The firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company's revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.7%. Abbott Laboratories's dividend payout ratio is presently 29.57%.

About Abbott Laboratories

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.