Riverbridge Partners LLC Buys Shares of 13,779 Abbott Laboratories $ABT

Key Points

• Riverbridge Partners LLC acquired 13,779 shares of Abbott Laboratories valued at approximately $1,874,000 during the second quarter, indicating growing institutional interest in the firm.
• Abbott Laboratories reported a 7.4% increase in revenue compared to the previous year, achieving $11.14 billion, with earnings per share of $1.26 that matched expectations.
• The company announced a quarterly dividend of $0.59 per share, set to be paid on November 17th, representing an annualized yield of 1.8%.

Riverbridge Partners LLC bought a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 13,779 shares of the healthcare product maker's stock, valued at approximately $1,874,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Signal Tree Financial Partners LLC bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $354,000. Signet Financial Management LLC increased its position in shares of Abbott Laboratories by 6.5% during the second quarter. Signet Financial Management LLC now owns 3,066 shares of the healthcare product maker's stock valued at $417,000 after acquiring an additional 188 shares in the last quarter. Verum Partners LLC increased its position in shares of Abbott Laboratories by 50.3% during the second quarter. Verum Partners LLC now owns 3,348 shares of the healthcare product maker's stock valued at $455,000 after acquiring an additional 1,120 shares in the last quarter. Legacy Solutions LLC increased its position in shares of Abbott Laboratories by 8.4% during the second quarter. Legacy Solutions LLC now owns 1,842 shares of the healthcare product maker's stock valued at $251,000 after acquiring an additional 142 shares in the last quarter. Finally, Mather Group LLC. increased its position in shares of Abbott Laboratories by 16.5% during the second quarter. Mather Group LLC. now owns 25,596 shares of the healthcare product maker's stock valued at $3,481,000 after acquiring an additional 3,623 shares in the last quarter. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Trading Down 1.5%

Shares of Abbott Laboratories stock opened at $133.80 on Thursday. The company's fifty day simple moving average is $130.69 and its 200-day simple moving average is $131.17. The stock has a market capitalization of $232.87 billion, a PE ratio of 16.77, a P/E/G 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 current ratio of 1.82 and a quick ratio of 1.30.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting 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 company's revenue was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $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. As a group, equities 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 paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction 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 transaction, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ABT has been the subject of several analyst reports. Mizuho raised their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Raymond James Financial dropped their target price on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a report on Friday, July 18th. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. BTIG Research dropped their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Finally, William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $145.22.

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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