WoodTrust Financial Corp Acquires 8,165 Shares of Abbott Laboratories $ABT

Key Points

• WoodTrust Financial Corp has significantly increased its holdings in Abbott Laboratories by acquiring 8,165 shares during the second quarter, bringing its total ownership to 14,137 shares valued at approximately $1.92 million.
• Several institutional investors, including Janney Montgomery Scott LLC, have also increased their stakes in Abbott, resulting in a total of 75.18% of the stock being owned by institutional investors.
• Analysts have given Abbott a Moderate Buy rating, with numerous firms raising their target price, the highest being $157 according to Goldman Sachs Group, indicating a positive outlook for the company's stock.

WoodTrust Financial Corp grew its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 136.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,137 shares of the healthcare product maker's stock after acquiring an additional 8,165 shares during the period. WoodTrust Financial Corp's holdings in Abbott Laboratories were worth $1,923,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Kelly Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the first quarter worth $216,000. Edge Financial Advisors LLC increased its stake in shares of 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 purchasing an additional 81 shares in the last quarter. Avanza Fonder AB increased its stake in shares of Abbott Laboratories by 0.4% in the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker's stock worth $22,904,000 after purchasing an additional 655 shares in the last quarter. Madrona Financial Services LLC increased its stake in shares of Abbott Laboratories by 9.7% in the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker's stock worth $235,000 after purchasing an additional 152 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Abbott Laboratories by 12.4% in the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker's stock worth $91,109,000 after purchasing an additional 73,780 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ABT. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Abbott Laboratories in a research note on Saturday, September 27th. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and raised their target price for the company from $143.00 to $145.00 in a research note on Friday, July 18th. The Goldman Sachs Group raised their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a "buy" rating in a research note on Wednesday, October 1st. Mizuho raised their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Finally, BTIG Research cut their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Abbott Laboratories currently has an average rating of "Moderate Buy" and a consensus price target of $146.24.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT 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 stock has a market capitalization of $231.58 billion, a P/E ratio of 16.67, a PEG ratio of 2.54 and a beta of 0.69. The firm has a fifty day simple moving average of $132.19 and a two-hundred 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 issued its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 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 analysts' expectations of $11.01 billion. During the same period last year, the company posted $1.14 EPS. The business's revenue 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. On average, analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

Insider Activity

In other 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 value of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.46% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.