Swisher Financial Concepts Inc. Acquires New Holdings in Abbott Laboratories $ABT

Key Points

• Swisher Financial Concepts Inc. acquired a new stake in Abbott Laboratories, purchasing 51,505 shares worth approximately $7 million, making it the fifth largest position in their portfolio.
• Abbott Laboratories recently announced a quarterly dividend of $0.59 per share, translating to an annualized yield of 1.8%, with the ex-dividend date set for October 15th.
• According to analysts, Abbott Laboratories has a consensus target price of $145.22 and is rated as "Moderate Buy" based on recent evaluations from several equities research firms.

Swisher Financial Concepts Inc. purchased a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 51,505 shares of the healthcare product maker's stock, valued at approximately $7,005,000. Abbott Laboratories accounts for approximately 4.5% of Swisher Financial Concepts Inc.'s portfolio, making the stock its 5th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at approximately $27,000. Abound Financial LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at approximately $28,000. Elequin Capital LP acquired a new position in Abbott Laboratories in the 1st quarter valued at approximately $30,000. JCIC Asset Management Inc. acquired a new stake in shares of Abbott Laboratories during the first quarter worth $32,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth $33,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm'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 transaction, the chief financial officer directly owned 51,003 shares of the company's stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by insiders.

Abbott Laboratories Trading Down 0.4%

NYSE:ABT opened at $133.38 on Friday. 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 stock has a market capitalization of $232.13 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.54 and a beta of 0.69. The firm has a fifty day simple moving average of $130.94 and a two-hundred day simple moving average of $131.14. Abbott Laboratories has a 12 month low of $110.86 and a 12 month 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, 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 firm had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period last year, the firm earned $1.14 earnings per share. The business's quarterly revenue was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ABT shares. Royal Bank Of Canada increased their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. BTIG Research decreased their price objective on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Raymond James Financial decreased their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research report on Friday, July 18th. Leerink Partners started coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a "market perform" rating and a $143.00 price objective for the company. Finally, Wells Fargo & Company decreased 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. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and a consensus target price of $145.22.

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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