West Oak Capital LLC Purchases 2,280 Shares of Abbott Laboratories $ABT

Key Points

• West Oak Capital LLC increased its stake in Abbott Laboratories by 9.5% in Q2, acquiring an additional 2,280 shares, bringing its total holdings to 26,234 shares worth approximately $3.57 million.
• Analysts have recently raised target prices for Abbott Laboratories, with Morgan Stanley increasing their target from $127 to $137, indicating a generally optimistic outlook for the company's stock.
• Abbott Laboratories declared a quarterly dividend of $0.59 per share, representing an annualized yield of 1.7%, to be paid on November 17th to shareholders recorded by October 15th.

West Oak Capital LLC grew its position in Abbott Laboratories (NYSE:ABT - Free Report) by 9.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 26,234 shares of the healthcare product maker's stock after acquiring an additional 2,280 shares during the period. Abbott Laboratories accounts for approximately 1.4% of West Oak Capital LLC's investment portfolio, making the stock its 19th biggest position. West Oak Capital LLC's holdings in Abbott Laboratories were worth $3,568,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. CHICAGO TRUST Co NA lifted its stake in shares of Abbott Laboratories by 9.4% in the 2nd quarter. CHICAGO TRUST Co NA now owns 109,509 shares of the healthcare product maker's stock valued at $14,894,000 after acquiring an additional 9,438 shares during the last quarter. Opal Wealth Advisors LLC lifted its stake in shares of Abbott Laboratories by 10.4% in the 2nd quarter. Opal Wealth Advisors LLC now owns 3,141 shares of the healthcare product maker's stock valued at $427,000 after acquiring an additional 296 shares during the last quarter. Gries Financial LLC lifted its stake in shares of Abbott Laboratories by 3.3% in the 2nd quarter. Gries Financial LLC now owns 16,087 shares of the healthcare product maker's stock valued at $2,188,000 after acquiring an additional 512 shares during the last quarter. Golden State Equity Partners lifted its stake in shares of Abbott Laboratories by 70.7% in the 2nd quarter. Golden State Equity Partners now owns 8,444 shares of the healthcare product maker's stock valued at $1,149,000 after acquiring an additional 3,496 shares during the last quarter. Finally, Cherrydale Wealth Management LLC lifted its stake in shares of Abbott Laboratories by 5.6% in the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,599 shares of the healthcare product maker's stock valued at $217,000 after acquiring an additional 85 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ABT has been the subject of several analyst reports. Morgan Stanley raised their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Mizuho raised their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and raised their target price for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. 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 research report on Friday, July 18th. Finally, Raymond James Financial lowered their target price on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $145.22.

Abbott Laboratories Price Performance

ABT stock opened at $136.82 on Tuesday. The company has a market capitalization of $238.13 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 2.58 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The business has a 50-day simple moving average of $130.56 and a two-hundred day simple moving average of $131.11.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.26. The business 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 company's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous 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. Research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.7%. Abbott Laboratories's payout ratio is 29.57%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Company 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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