Franklin Street Advisors Inc. NC Acquires 1,919 Shares of Abbott Laboratories $ABT

Franklin Street Advisors Inc. NC lifted its holdings in shares of Abbott Laboratories (NYSE:ABT) by 24.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,800 shares of the healthcare product maker’s stock after acquiring an additional 1,919 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Abbott Laboratories were worth $1,333,000 at the end of the most recent quarter.

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

Abbott Laboratories Stock Performance

Shares of ABT opened at $134.49 on Friday. 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 twelve month low of $110.86 and a twelve month high of $141.23. The firm’s 50 day moving average price is $131.94 and its two-hundred day moving average price is $131.33. The firm has a market cap of $234.07 billion, a P/E ratio of 16.85, a PEG ratio of 2.52 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. 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 forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Evercore ISI lifted their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Raymond James Financial reduced their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating on the stock in a research note on Friday, July 18th. Finally, The Goldman Sachs Group lifted their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $145.39.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business’s 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 sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

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.