Roman Butler Fullerton & Co. Acquires 6,705 Shares of Abbott Laboratories $ABT

Key Points

• Roman Butler Fullerton & Co. increased its position in Abbott Laboratories by 180.7%, acquiring an additional 6,705 shares during the second quarter, bringing its total holdings to 10,416 shares valued at approximately $1.32 million.
• Abbott Laboratories reported $1.30 earnings per share for the recent quarter, matching analysts' expectations, with a revenue of approximately $11.37 billion.
• The company announced a quarterly dividend of $0.59 per share, reflecting a dividend yield of 1.8%, to be paid on November 17th.

Roman Butler Fullerton & Co. grew its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 180.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,416 shares of the healthcare product maker's stock after buying an additional 6,705 shares during the quarter. Roman Butler Fullerton & Co.'s holdings in Abbott Laboratories were worth $1,318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after purchasing an additional 4,755 shares during the last quarter. GAMMA Investing LLC raised its holdings in Abbott Laboratories by 17.0% during the 1st quarter. GAMMA Investing LLC now owns 38,467 shares of the healthcare product maker's stock valued at $5,103,000 after buying an additional 5,590 shares during the last quarter. GHP Investment Advisors Inc. boosted its position in Abbott Laboratories by 3.4% during the 1st quarter. GHP Investment Advisors Inc. now owns 29,491 shares of the healthcare product maker's stock valued at $3,912,000 after buying an additional 959 shares during the period. Moran Wealth Management LLC bought a new stake in Abbott Laboratories in the 1st quarter worth $10,015,000. Finally, Strategic Investment Advisors MI increased its position in shares of Abbott Laboratories by 2.1% in the first quarter. Strategic Investment Advisors MI now owns 7,431 shares of the healthcare product maker's stock valued at $986,000 after acquiring an additional 155 shares during the period. Institutional investors own 75.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ABT. Weiss Ratings reiterated a "buy (b)" rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Royal Bank Of Canada reissued an "outperform" rating and set a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. Jefferies Financial Group raised their price target on Abbott Laboratories from $145.00 to $149.00 and gave the stock a "buy" rating in a research note on Thursday, October 16th. Finally, The Goldman Sachs Group upped their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $147.00.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business'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 approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Up 0.2%

Shares of Abbott Laboratories stock opened at $127.83 on Thursday. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The firm has a market cap of $222.48 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 2.42 and a beta of 0.69. The company has a 50-day moving average of $132.25 and a 200 day moving average of $131.52. 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 announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts' consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business had revenue of $11.37 billion for the quarter, compared to analysts' expectations of $11.40 billion. During the same quarter in the prior year, the company earned $1.21 earnings per share. The business's revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

Abbott Laboratories 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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