Vestmark Advisory Solutions Inc. Acquires 8,950 Shares of Abbott Laboratories $ABT

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Abbott Laboratories by 68.2% during the first quarter, owning a total of 22,073 shares valued at approximately $2.93 million.
• Abbott Laboratories reported earnings of $1.26 per share for the quarter, matching consensus estimates, with revenue of $11.14 billion, surpassing expectations of $11.01 billion.
• The company announced a quarterly dividend of $0.59 per share, which equates to an annualized dividend yield of 1.8% and a dividend payout ratio of 29.57%.

Vestmark Advisory Solutions Inc. lifted its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 68.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,073 shares of the healthcare product maker's stock after buying an additional 8,950 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Abbott Laboratories were worth $2,928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ABT. Brighton Jones LLC raised its position in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after buying an additional 4,755 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after purchasing an additional 2,774 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in Abbott Laboratories by 2.7% during the fourth quarter. Evergreen Capital Management LLC now owns 16,925 shares of the healthcare product maker's stock worth $1,914,000 after purchasing an additional 445 shares during the last quarter. Arvest Bank Trust Division acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $203,000. Finally, Capital International Sarl raised its holdings in shares of Abbott Laboratories by 6.3% during the 4th quarter. Capital International Sarl now owns 272,580 shares of the healthcare product maker's stock worth $30,832,000 after buying an additional 16,161 shares in the last quarter. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Trading Up 1.0%

NYSE ABT traded up $1.35 during mid-day trading on Wednesday, reaching $132.60. 1,854,491 shares of the stock were exchanged, compared to its average volume of 6,833,886. The stock has a market cap of $230.78 billion, a P/E ratio of 16.62, a P/E/G ratio of 2.47 and a beta of 0.70. 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 has a one year low of $110.68 and a one year high of $141.23. The stock has a 50 day simple moving average of $131.28 and a 200-day simple moving average of $131.24.

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 for the quarter, hitting analysts' consensus estimates of $1.26. The firm had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business's revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $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, analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Tuesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is presently 29.57%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABT. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research report on Monday, June 16th. Royal Bank Of Canada lifted their price target on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Morgan Stanley raised their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Wells Fargo & Company lowered their target price on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Finally, Evercore ISI lifted their price target on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

Insiders Place Their Bets

In other 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 transaction of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company's stock.

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.