Triasima Portfolio Management inc. Buys New Stake in Abbott Laboratories $ABT

Triasima Portfolio Management inc. bought a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 16,285 shares of the healthcare product maker's stock, valued at approximately $2,215,000.

Several other large investors have also recently made changes to their positions in the company. Consilium Wealth Advisory LLC lifted its stake in shares of Abbott Laboratories by 2.1% in the 1st quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock valued at $507,000 after purchasing an additional 78 shares during the period. Mayflower Financial Advisors LLC lifted its stake in shares of Abbott Laboratories by 0.5% in the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock valued at $2,298,000 after purchasing an additional 78 shares during the period. FF Advisors LLC lifted its stake in shares of Abbott Laboratories by 4.3% in the 2nd quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker's stock valued at $259,000 after purchasing an additional 79 shares during the period. Charles Schwab Trust Co increased its holdings in Abbott Laboratories by 0.6% in the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker's stock worth $1,907,000 after acquiring an additional 79 shares in the last quarter. Finally, Opes Wealth Management LLC increased its holdings in Abbott Laboratories by 2.9% in the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock worth $379,000 after acquiring an additional 80 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $133.05 on Wednesday. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The firm has a market capitalization of $231.58 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 2.54 and a beta of 0.69. The company has a fifty day simple moving average of $132.19 and a 200-day simple moving average of $131.45. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The company's revenue for the quarter 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. On average, equities analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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 issued a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction dated Friday, August 8th. The shares were 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. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of several recent analyst reports. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their price target for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. The Goldman Sachs Group boosted their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a "buy" rating in a report on Wednesday, October 1st. Wells Fargo & Company cut their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Finally, William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $146.24.

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.

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