Grimes & Company Inc. Purchases 814 Shares of Abbott Laboratories $ABT

Grimes & Company Inc. lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,789 shares of the healthcare product maker’s stock after buying an additional 814 shares during the quarter. Grimes & Company Inc.’s holdings in Abbott Laboratories were worth $8,132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABT. Kelly Financial Services LLC bought a new stake in Abbott Laboratories during the first quarter valued at about $216,000. Edge Financial Advisors LLC boosted its position in 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 in the last quarter. Avanza Fonder AB boosted its position in Abbott Laboratories by 0.4% during the second 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 in the last quarter. Madrona Financial Services LLC boosted its position in Abbott Laboratories by 9.7% during the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after purchasing an additional 152 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Abbott Laboratories by 12.4% during the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock valued at $91,109,000 after purchasing an additional 73,780 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Up 1.1%

Shares of NYSE:ABT opened at $134.49 on Monday. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The stock has a market cap of $234.07 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.55 and a beta of 0.69. 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 business has a 50-day moving average price of $131.94 and a 200-day moving average price of $131.39.

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

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be paid 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 presently 29.57%.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Royal Bank Of Canada increased their price target on Abbott Laboratories from $145.00 to $147.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Evercore ISI increased their price target on Abbott Laboratories from $140.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Raymond James Financial decreased their price target on Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research note on Friday, July 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a research note on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.39.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s 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 sale, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.

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.