Alley Investment Management Company LLC Has $19.41 Million Stock Position in Abbott Laboratories $ABT

Alley Investment Management Company LLC raised its position in Abbott Laboratories (NYSE:ABT) by 0.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 142,680 shares of the healthcare product maker’s stock after purchasing an additional 225 shares during the period. Abbott Laboratories makes up about 2.3% of Alley Investment Management Company LLC’s investment portfolio, making the stock its 14th biggest holding. Alley Investment Management Company LLC’s holdings in Abbott Laboratories were worth $19,406,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ABT. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter worth approximately $27,000. Abound Financial LLC bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $28,000. Elequin Capital LP bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $30,000. JCIC Asset Management Inc. bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $32,000. Finally, Vision Financial Markets LLC bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $33,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Stock Up 0.6%

NYSE:ABT opened at $133.97 on Wednesday. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $233.17 billion, a P/E ratio of 16.79, a P/E/G ratio of 2.52 and a beta of 0.69. The stock’s fifty day simple moving average is $131.48 and its 200-day simple moving average is $131.22.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results 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 return on equity of 18.32% and a net margin of 32.43%.The business had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period last year, the company earned $1.14 EPS. The firm’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. Equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories’s payout ratio is currently 29.57%.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of research analyst reports. Mizuho increased their price target on Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Royal Bank Of Canada increased their price target on Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Jefferies Financial Group upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and increased their price objective for the company from $143.00 to $145.00 in a research report on Friday, July 18th. Finally, BTIG Research decreased their price objective on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $145.22.

Insiders Place Their Bets

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 transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.