Rothschild Capital Partners LLC Buys New Stake in Abbott Laboratories $ABT

Key Points

• Rothschild Capital Partners LLC acquired a new stake in Abbott Laboratories, purchasing 2,150 shares valued at approximately $292,000 during the second quarter.
• Several institutional investors, including Vanguard Group and Goldman Sachs Group, have increased their holdings in Abbott Laboratories, indicating strong institutional interest.
• Abbott Laboratories recently reported earnings of $1.30 per share for the quarter, slightly below revenue expectations, and announced a quarterly dividend of $0.59, reflecting a 1.8% dividend yield.

Rothschild Capital Partners LLC bought a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,150 shares of the healthcare product maker's stock, valued at approximately $292,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Abbott Laboratories by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker's stock valued at $22,527,039,000 after buying an additional 1,177,739 shares during the period. Wellington Management Group LLP grew its position in 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 acquiring an additional 3,371,113 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Abbott Laboratories by 29.2% during the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock worth $2,120,516,000 after purchasing an additional 3,616,471 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Abbott Laboratories by 12.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker's stock valued at $1,916,966,000 after purchasing an additional 1,639,954 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Abbott Laboratories by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker's stock valued at $1,738,831,000 after purchasing an additional 168,095 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

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

Analyst Upgrades and Downgrades

ABT has been the subject of several recent research reports. BTIG Research reissued a "buy" rating and issued a $145.00 price target on shares of Abbott Laboratories in a research report on Wednesday, October 15th. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Daiwa Capital Markets boosted their target price on Abbott Laboratories from $134.00 to $136.00 and gave the stock an "outperform" rating in a research note on Tuesday. Jefferies Financial Group increased their price target on Abbott Laboratories from $145.00 to $149.00 and gave the company a "buy" rating in a research report on Thursday, October 16th. Finally, 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 research report on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $127.83 on Thursday. 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 has a 52 week low of $110.86 and a 52 week high of $141.23. The firm's 50 day moving average is $132.25 and its two-hundred day moving average is $131.52. The firm has a market capitalization of $222.48 billion, a P/E ratio of 16.02, a P/E/G ratio of 2.42 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts' expectations of $11.40 billion. During the same quarter in the prior year, the business posted $1.21 EPS. The company's revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Research analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 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 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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