Abbott Laboratories $ABT Shares Bought by Sunbeam Capital Management LLC

Sunbeam Capital Management LLC raised its stake in shares of Abbott Laboratories (NYSE:ABT) by 13.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,936 shares of the healthcare product maker’s stock after purchasing an additional 227 shares during the period. Sunbeam Capital Management LLC’s holdings in Abbott Laboratories were worth $263,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after acquiring an additional 4,755 shares during the last quarter. Congress Asset Management Co. lifted its holdings in Abbott Laboratories by 6.3% in the 1st quarter. Congress Asset Management Co. now owns 3,529 shares of the healthcare product maker’s stock valued at $468,000 after purchasing an additional 210 shares in the last quarter. RDA Financial Network acquired a new stake in Abbott Laboratories during the 1st quarter worth $204,000. Miracle Mile Advisors LLC grew its holdings in shares of Abbott Laboratories by 6.4% during the first quarter. Miracle Mile Advisors LLC now owns 38,122 shares of the healthcare product maker’s stock worth $5,057,000 after buying an additional 2,293 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its position in shares of Abbott Laboratories by 5.3% in the first quarter. Capital Investment Advisors LLC now owns 22,737 shares of the healthcare product maker’s stock valued at $3,016,000 after buying an additional 1,137 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

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 shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Down 0.7%

ABT stock opened at $133.63 on Tuesday. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The firm has a market cap of $232.58 billion, a PE ratio of 16.75, a PEG ratio of 2.55 and a beta of 0.69. The firm’s 50 day moving average price is $132.08 and its 200-day moving average price is $131.44. 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 (NYSE:ABT) last posted its 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 company had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $11.01 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The firm’s quarterly revenue 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. On average, equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

Analysts Set New Price Targets

ABT has been the topic of a number of recent research reports. Royal Bank Of Canada boosted their price target 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. Mizuho raised their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Jefferies Financial Group upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and upped their price target for the company from $143.00 to $145.00 in a research report on Friday, July 18th. Leerink Partners started coverage on Abbott Laboratories in a report on Monday, June 16th. They issued a “market perform” rating and a $143.00 price target for the company. Finally, Wells Fargo & Company lowered their price objective on Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.39.

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.