Summit Financial LLC Purchases 6,899 Shares of Abbott Laboratories $ABT

Key Points

• Summit Financial LLC increased its stake in Abbott Laboratories by 11.7%, acquiring an additional 6,899 shares, bringing their total holdings to 65,838 shares valued at approximately $8.73 million.
• Wall Street analysts have mixed outlooks for Abbott Laboratories, with revised price targets ranging from $141 to $147, and a consensus rating of "Moderate Buy" based on multiple analyst reviews.
• Abbott Laboratories recently announced a quarterly dividend of $0.59, representing an annualized yield of 1.8%, with a dividend payout ratio of 29.57%.

Summit Financial LLC boosted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,838 shares of the healthcare product maker's stock after acquiring an additional 6,899 shares during the quarter. Summit Financial LLC's holdings in Abbott Laboratories were worth $8,733,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Three Seasons Wealth LLC bought a new stake in Abbott Laboratories in the fourth quarter worth about $1,428,000. Kelly Financial Services LLC bought a new stake in Abbott Laboratories in the first quarter worth about $216,000. Voleon Capital Management LP bought a new stake in Abbott Laboratories in the fourth quarter worth about $273,000. Bank Pictet & Cie Europe AG raised its position in Abbott Laboratories by 1.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock worth $17,274,000 after acquiring an additional 2,774 shares in the last quarter. Finally, Edge Financial Advisors LLC raised its position in Abbott Laboratories by 3.3% in the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock worth $336,000 after acquiring an additional 81 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ABT. Royal Bank Of Canada lifted their price target on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. William Blair raised Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. BTIG Research dropped their price target on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Finally, Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their price target for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $144.47.

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Up 0.3%

NYSE:ABT traded up $0.4120 on Friday, hitting $132.4120. 4,130,154 shares of the company's stock traded hands, compared to its average volume of 5,721,513. 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. The firm has a 50-day moving average price of $131.08 and a 200-day moving average price of $131.29. The company has a market cap of $230.46 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 2.51 and a beta of 0.70.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. During the same quarter in the previous year, the business posted $1.14 EPS. The business'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. Equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, July 15th. Abbott Laboratories's 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.