PDS Planning Inc Increases Stake in Abbott Laboratories $ABT

Key Points

• PDS Planning Inc increased its stake in Abbott Laboratories by 3.0% during the second quarter, bringing its total to 120,786 shares valued at approximately $16.4 million.
• Research analysts have raised Abbott Laboratories' price targets, with Morgan Stanley increasing its target from $127.00 to $137.00 and Goldman Sachs raising it from $153.00 to $157.00, indicating a generally positive outlook.
• Abbott Laboratories reported revenue of $11.14 billion for the latest quarter, exceeding analysts' expectations, and announced a quarterly dividend of $0.59 to be paid on November 17th.

PDS Planning Inc raised its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 3.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,786 shares of the healthcare product maker's stock after buying an additional 3,464 shares during the quarter. Abbott Laboratories comprises 1.2% of PDS Planning Inc's portfolio, making the stock its 18th largest holding. PDS Planning Inc's holdings in Abbott Laboratories were worth $16,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. JB Capital LLC grew its holdings in Abbott Laboratories by 19.3% during the 2nd quarter. JB Capital LLC now owns 2,867 shares of the healthcare product maker's stock valued at $390,000 after buying an additional 464 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Abbott Laboratories by 0.7% during the second quarter. Blue Trust Inc. now owns 33,492 shares of the healthcare product maker's stock worth $4,555,000 after purchasing an additional 236 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its holdings in shares of Abbott Laboratories by 8.1% during the second quarter. Robertson Stephens Wealth Management LLC now owns 22,676 shares of the healthcare product maker's stock worth $3,084,000 after purchasing an additional 1,693 shares in the last quarter. Cascade Investment Group Inc. grew its holdings in shares of Abbott Laboratories by 6.4% during the second quarter. Cascade Investment Group Inc. now owns 3,687 shares of the healthcare product maker's stock worth $501,000 after purchasing an additional 223 shares in the last quarter. Finally, Monument Capital Management grew its holdings in shares of Abbott Laboratories by 84.8% during the second quarter. Monument Capital Management now owns 4,209 shares of the healthcare product maker's stock worth $572,000 after purchasing an additional 1,931 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on ABT shares. Morgan Stanley boosted their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Mizuho upped their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. William Blair raised Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Raymond James Financial cut their target price on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, July 18th. Finally, The Goldman Sachs Group upped their target price on Abbott Laboratories from $153.00 to $157.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. 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. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus price target of $146.24.

Insiders Place Their Bets

In related 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 value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $133.24 on Friday. The stock has a market cap of $231.90 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 2.55 and a beta of 0.69. The firm's fifty day simple moving average is $132.44 and its 200 day simple moving average is $131.52. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. 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 for the quarter, meeting the consensus estimate of $1.26. The business had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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. As a group, research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio is presently 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.

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