1832 Asset Management L.P. Increases Holdings in Abbott Laboratories $ABT

1832 Asset Management L.P. lifted its position in Abbott Laboratories (NYSE:ABT) by 54.2% in the first quarter, Holdings Channel reports. The firm owned 386,417 shares of the healthcare product maker’s stock after buying an additional 135,898 shares during the period. 1832 Asset Management L.P.’s holdings in Abbott Laboratories were worth $51,258,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ABT. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $30,000. Wormser Freres Gestion purchased a new stake in Abbott Laboratories during the fourth quarter worth $32,000. Finally, JCIC Asset Management Inc. purchased a new stake in Abbott Laboratories during the first quarter worth $32,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the subject of a number of analyst reports. Mizuho upped their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. BTIG Research lowered their target price on Abbott Laboratories from $148.00 to $145.00 and set a “buy” rating for the company in a report on Friday, July 18th. Morgan Stanley upped their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Jefferies Financial Group upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and upped their target price for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Finally, Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.47.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $132.4120 on Friday. The business’s fifty day simple moving average is $131.08 and its 200-day simple moving average is $131.29. The company has a market cap of $230.46 billion, a PE ratio of 16.59, a PEG ratio of 2.50 and a beta of 0.70. 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 has a 12-month low of $110.86 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.26. The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. 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 was paid on Friday, August 15th. Investors of record on Tuesday, July 15th were paid a $0.59 dividend. The ex-dividend date was Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.8%. Abbott Laboratories’s dividend payout ratio (DPR) is 29.57%.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was 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 $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is owned by company insiders.

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.