Security National Bank Grows Stake in Abbott Laboratories $ABT

Key Points

• Security National Bank significantly increased its holdings in Abbott Laboratories by 441.6%, acquiring an additional 14,430 shares during the second quarter, bringing its total to 17,698 shares worth approximately $2.4 million.
• Abbott Laboratories reported a net margin of 32.43% and quarterly revenue of $11.14 billion, surpassing analysts' expectations and reflecting a year-over-year increase of 7.4%.
• Analysts have mixed ratings on Abbott, with the average target price now set at $145.22, and notable upgrades including a boost from William Blair to a "strong-buy" rating.

Security National Bank grew its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 441.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,698 shares of the healthcare product maker's stock after buying an additional 14,430 shares during the period. Security National Bank's holdings in Abbott Laboratories were worth $2,407,000 as of its most recent SEC filing.

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

Abbott Laboratories Price Performance

Shares of NYSE:ABT traded up $1.14 during trading on Monday, reaching $137.18. The stock had a trading volume of 2,771,390 shares, compared to its average volume of 6,646,569. The business has a fifty day moving average price of $130.47 and a 200-day moving average price of $131.12. The stock has a market cap of $238.76 billion, a PE ratio of 17.18, a PEG ratio of 2.58 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. 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 released its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts' consensus estimates of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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. On average, equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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 $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio is 29.57%.

Analysts Set New Price Targets

Several research analysts have weighed in on ABT shares. Wells Fargo & Company dropped their price target on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and increased their target price for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Royal Bank Of Canada raised their price target on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Raymond James Financial cut their price target on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research note on Friday, July 18th. Finally, Mizuho raised their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $145.22.

Insider Activity at Abbott Laboratories

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

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.