SteelPeak Wealth LLC Increases Position in Abbott Laboratories $ABT

Key Points

• SteelPeak Wealth LLC increased its stake in Abbott Laboratories by 21.3%, acquiring an additional 3,245 shares during the second quarter, bringing their total to 18,445 shares valued at $2.5 million.
• Abbott Laboratories reported $1.26 earnings per share for the last quarter, meeting analysts' expectations, and had a revenue of $11.14 billion, exceeding estimates.
• The company announced a quarterly dividend of $0.59 per share, representing an annualized yield of 1.8%, with the ex-dividend date set for October 15th.

SteelPeak Wealth LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 21.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,445 shares of the healthcare product maker's stock after acquiring an additional 3,245 shares during the quarter. SteelPeak Wealth LLC's holdings in Abbott Laboratories were worth $2,509,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Heck Capital Advisors LLC boosted its position in shares of Abbott Laboratories by 7.8% during the second quarter. Heck Capital Advisors LLC now owns 4,532 shares of the healthcare product maker's stock worth $616,000 after acquiring an additional 326 shares during the last quarter. Motiv8 Investments LLC boosted its position in shares of Abbott Laboratories by 10.1% during the second quarter. Motiv8 Investments LLC now owns 11,609 shares of the healthcare product maker's stock worth $1,579,000 after acquiring an additional 1,067 shares during the last quarter. Capital Advisors Inc. OK boosted its position in shares of Abbott Laboratories by 0.4% during the second quarter. Capital Advisors Inc. OK now owns 32,722 shares of the healthcare product maker's stock worth $4,451,000 after acquiring an additional 117 shares during the last quarter. Iowa State Bank lifted its position in Abbott Laboratories by 0.8% during the second quarter. Iowa State Bank now owns 14,657 shares of the healthcare product maker's stock valued at $1,993,000 after purchasing an additional 110 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC lifted its position in Abbott Laboratories by 1.5% during the second quarter. Relyea Zuckerberg Hanson LLC now owns 24,076 shares of the healthcare product maker's stock valued at $3,275,000 after purchasing an additional 359 shares during the last quarter. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Trading Down 0.5%

ABT stock opened at $133.05 on Wednesday. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The firm's 50-day moving average is $132.19 and its 200 day moving average is $131.45. The company has a market capitalization of $231.58 billion, a PE ratio of 16.67, a P/E/G ratio of 2.54 and a beta of 0.69. 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 Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the business posted $1.14 EPS. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. 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, research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current 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 issued a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Analyst Ratings Changes

ABT has been the subject of several research reports. Mizuho increased their price objective 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. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and increased their price objective for the company from $143.00 to $145.00 in a research report on Friday, July 18th. Wells Fargo & Company lowered their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Evercore ISI increased their price objective on shares of Abbott Laboratories from $140.00 to $144.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, Leerink Partners assumed coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $146.24.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories 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 completion of the sale, 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 filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by insiders.

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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