Strathmore Capital Advisors Inc. Takes $511,000 Position in Abbott Laboratories $ABT

Key Points

• Strathmore Capital Advisors Inc. has acquired 3,837 shares of Abbott Laboratories, valued at approximately $511,000, marking a new stake during the second quarter.
• Research analysts have generally rated Abbott with a consensus of "Moderate Buy" and set an average price target of $144.47, with two analysts giving a Strong Buy rating.
• Abbott Laboratories reported an earnings per share (EPS) of $1.26 for the last quarter, meeting analyst expectations, while revenue increased by 7.4% year-over-year to $11.14 billion.

Strathmore Capital Advisors Inc. purchased a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,837 shares of the healthcare product maker's stock, valued at approximately $511,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Vanguard Group Inc. raised its position in Abbott Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker's stock worth $22,527,039,000 after acquiring an additional 1,177,739 shares during the period. Wellington Management Group LLP raised its position in Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock worth $3,948,117,000 after acquiring an additional 3,371,113 shares during the period. Goldman Sachs Group Inc. raised its position in Abbott Laboratories by 29.2% in 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 acquiring an additional 3,616,471 shares during the period. Massachusetts Financial Services Co. MA raised its position in 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 worth $1,916,966,000 after acquiring an additional 1,639,954 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in 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 worth $1,738,831,000 after acquiring an additional 168,095 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the 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 directly owned 51,003 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABT. Evercore ISI boosted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Mizuho boosted their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their price objective for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Royal Bank Of Canada boosted their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, BTIG Research cut their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $145.22.

Abbott Laboratories Trading Up 1.2%

NYSE ABT traded up $1.65 during trading on Friday, hitting $136.22. The company had a trading volume of 11,531,874 shares, compared to its average volume of 4,828,819. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The company's fifty day moving average is $130.47 and its 200-day moving average is $131.14. The company has a market cap of $237.09 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.58 and a beta of 0.69. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. The company had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. Abbott Laboratories's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business earned $1.14 EPS. 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, sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

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.