S Bank Fund Management Ltd Purchases Shares of 34,565 Abbott Laboratories $ABT

Key Points

• S Bank Fund Management Ltd acquired 34,565 shares of Abbott Laboratories (NYSE: ABT) for approximately $4.7 million in the 2nd quarter.
• Abbott Laboratories reported earnings of $1.30 per share for the quarter, matching analyst estimates, with a revenue of $11.37 billion, slightly below expectations.
• The company declared a quarterly dividend of $0.59 per share, set to be paid on November 17th, reflecting an annual yield of 1.8%.

S Bank Fund Management Ltd purchased a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 34,565 shares of the healthcare product maker's stock, valued at approximately $4,701,000.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 1,177,739 shares during the period. Wellington Management Group LLP raised its position in shares of Abbott Laboratories by 12.8% during 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 buying an additional 3,371,113 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock valued at $2,120,516,000 after buying an additional 3,616,471 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Abbott Laboratories by 12.8% during the 1st 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 buying an additional 1,639,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Abbott Laboratories by 1.3% during the 1st 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 buying an additional 168,095 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, 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 legal filing with the SEC, which is available at this link. 0.46% of the stock is owned by insiders.

Abbott Laboratories Trading Down 2.9%

Shares of ABT opened at $129.35 on Thursday. The firm's 50-day moving average price is $132.59 and its 200-day moving average price is $131.60. The firm has a market capitalization of $225.13 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 2.53 and a beta of 0.69. 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 1-year low of $110.86 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting analysts' consensus estimates of $1.30. The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

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

Analysts Set New Price Targets

ABT has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Evercore ISI lifted their target price on shares of Abbott Laboratories from $140.00 to $144.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 7th. The Goldman Sachs Group lifted their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a "buy" rating in a research report on Wednesday, October 1st. Mizuho lifted their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, BTIG Research decreased their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Two equities 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $146.17.

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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