Abbott Laboratories $ABT Shares Acquired by NorthRock Partners LLC

NorthRock Partners LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 9.5% during the second quarter, Holdings Channel reports. The firm owned 51,228 shares of the healthcare product maker’s stock after acquiring an additional 4,427 shares during the quarter. NorthRock Partners LLC’s holdings in Abbott Laboratories were worth $6,966,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Verdence Capital Advisors LLC increased its position in shares of Abbott Laboratories by 2.9% during the second quarter. Verdence Capital Advisors LLC now owns 24,377 shares of the healthcare product maker’s stock worth $3,316,000 after purchasing an additional 676 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Abbott Laboratories by 0.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 150,390 shares of the healthcare product maker’s stock worth $20,455,000 after purchasing an additional 1,400 shares in the last quarter. Wealth Architects LLC increased its position in shares of Abbott Laboratories by 2.4% during the second quarter. Wealth Architects LLC now owns 6,185 shares of the healthcare product maker’s stock worth $841,000 after purchasing an additional 144 shares in the last quarter. Astoria Portfolio Advisors LLC. increased its position in Abbott Laboratories by 2.9% in the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 3,958 shares of the healthcare product maker’s stock valued at $497,000 after acquiring an additional 113 shares during the period. Finally, Concord Asset Management LLC VA increased its position in Abbott Laboratories by 9.1% in the 2nd quarter. Concord Asset Management LLC VA now owns 13,065 shares of the healthcare product maker’s stock valued at $1,777,000 after acquiring an additional 1,087 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Jefferies Financial Group upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and boosted their price target for the company from $143.00 to $145.00 in a research report on Friday, July 18th. Leerink Partnrs upgraded Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Mizuho boosted their price target on Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Finally, Morgan Stanley boosted their price target 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. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.17.

Abbott Laboratories Price Performance

Shares of ABT opened at $132.30 on Monday. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The stock’s 50 day moving average is $132.54 and its two-hundred day moving average is $131.60. The firm has a market capitalization of $230.26 billion, a PE ratio of 16.58, a P/E/G ratio of 2.51 and a beta of 0.69. 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 (NYSE:ABT) last announced its quarterly earnings data 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 return on equity of 18.32% and a net margin of 32.43%.The company 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 company earned $1.14 EPS. The firm’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. Research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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 paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories’s payout ratio is 29.57%.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction that occurred on 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 owned 51,003 shares of the company’s stock, valued at $6,862,453.65. The trade was a 9.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.