Abbott Laboratories $ABT Shares Purchased by Legacy Solutions LLC

Legacy Solutions LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 8.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,842 shares of the healthcare product maker’s stock after acquiring an additional 142 shares during the period. Legacy Solutions LLC’s holdings in Abbott Laboratories were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ABT. Kelly Financial Services LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at about $216,000. Bank Pictet & Cie Europe AG raised its position in shares of 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 worth $17,274,000 after purchasing an additional 2,774 shares during the period. Edge Financial Advisors LLC lifted its holdings in shares of Abbott Laboratories by 3.3% during the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker’s stock valued at $336,000 after purchasing an additional 81 shares during the last quarter. Avanza Fonder AB boosted its position in shares of Abbott Laboratories by 0.4% in the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after purchasing an additional 655 shares during the period. Finally, SageView Advisory Group LLC increased its stake in Abbott Laboratories by 18.6% in the 1st quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker’s stock worth $2,427,000 after purchasing an additional 2,873 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Buying and Selling

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction on 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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Trading Down 0.6%

Shares of ABT stock opened at $135.82 on Wednesday. The firm has a market capitalization of $236.39 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 2.59 and a beta of 0.69. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The firm’s fifty day simple moving average is $130.65 and its 200 day simple moving average is $131.15. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The business’s 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. As a group, sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Raymond James Financial decreased their target price on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a report on Friday, July 18th. Mizuho raised their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Finally, Wells Fargo & Company reduced their price objective on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.22.

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.