Asset Advisors Investment Management LLC Raises Position in Abbott Laboratories $ABT

Asset Advisors Investment Management LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 0.5% in the 2nd quarter, Holdings Channel reports. The firm owned 111,832 shares of the healthcare product maker’s stock after purchasing an additional 585 shares during the quarter. Abbott Laboratories accounts for approximately 1.5% of Asset Advisors Investment Management LLC’s portfolio, making the stock its 22nd biggest position. Asset Advisors Investment Management LLC’s holdings in Abbott Laboratories were worth $15,210,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories in the first quarter valued at about $27,000. Abound Financial LLC acquired a new stake in shares of Abbott Laboratories in the first quarter valued at about $28,000. Elequin Capital LP acquired a new stake in shares of Abbott Laboratories in the first quarter valued at about $30,000. JCIC Asset Management Inc. acquired a new position in Abbott Laboratories during the first quarter worth about $32,000. Finally, Vision Financial Markets LLC acquired a new position in Abbott Laboratories during the first quarter worth about $33,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

ABT has been the subject of a number of research reports. Jefferies Financial Group upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and lifted their target price for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Royal Bank Of Canada lifted their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. William Blair raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Finally, Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $145.39.

Abbott Laboratories Trading Down 0.3%

ABT opened at $133.05 on Friday. The stock has a market capitalization of $231.56 billion, a PE ratio of 16.67, a P/E/G ratio of 2.53 and a beta of 0.69. The firm’s fifty day moving average price is $131.78 and its 200 day moving average price is $131.28. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. 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 earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company earned $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. As a group, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.