Redwood Investment Management LLC Invests $394,000 in Abbott Laboratories $ABT

Key Points

• Redwood Investment Management LLC has invested approximately $394,000 in Abbott Laboratories, acquiring 2,972 shares during the first quarter.
• Abbott's CFO, Philip P. Boudreau, sold 5,550 shares worth approximately $746,752.50, decreasing his ownership by 9.81%.
• The company reported a 7.4% year-over-year revenue increase, with quarterly earnings per share (EPS) of $1.26, matching analyst expectations.

Redwood Investment Management LLC bought a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,972 shares of the healthcare product maker's stock, valued at approximately $394,000.

Several other hedge funds have also recently added to or reduced their stakes in ABT. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories during the 1st quarter valued at about $27,000. Abound Financial LLC bought a new position in Abbott Laboratories during the first quarter valued at approximately $28,000. Elequin Capital LP purchased a new position in shares of Abbott Laboratories during the first quarter worth approximately $30,000. Wormser Freres Gestion bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $32,000. Finally, JCIC Asset Management Inc. purchased a new stake in shares of Abbott Laboratories in the 1st quarter valued at $32,000. Institutional investors own 75.18% of the company's stock.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. This trade 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 accessible through this link. 0.46% of the stock is owned by insiders.

Abbott Laboratories Trading Down 0.1%

NYSE:ABT opened at $131.39 on Thursday. The company has a 50-day moving average price of $131.01 and a 200-day moving average price of $131.33. The stock has a market cap of $228.68 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 2.50 and a beta of 0.70. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly 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 net margin of 32.43% and a return on equity of 18.32%. Abbott Laboratories's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company 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. Equities analysts predict 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Mizuho increased their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Leerink Partners assumed coverage on Abbott Laboratories in a research report on Monday, June 16th. They set a "market perform" rating and a $143.00 price target on the stock. BTIG Research lowered their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Finally, Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their target price for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $144.47.

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.

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