Jacobson & Schmitt Advisors LLC Takes Position in Abbott Laboratories $ABT

Jacobson & Schmitt Advisors LLC bought a new position in Abbott Laboratories (NYSE:ABT) during the second quarter, Holdings Channel reports. The fund bought 2,827 shares of the healthcare product maker’s stock, valued at approximately $385,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Avanza Fonder AB lifted its position in Abbott Laboratories by 0.4% in the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after buying an additional 655 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Abbott Laboratories by 12.4% in the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock worth $91,109,000 after acquiring an additional 73,780 shares during the last quarter. Madrona Financial Services LLC raised its holdings in shares of 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 worth $235,000 after acquiring an additional 152 shares in the last quarter. Atria Investments Inc boosted its position in Abbott Laboratories by 8.3% during the second quarter. Atria Investments Inc now owns 184,269 shares of the healthcare product maker’s stock valued at $25,062,000 after purchasing an additional 14,185 shares during the last quarter. Finally, State of Michigan Retirement System grew its stake in Abbott Laboratories by 0.5% in the second quarter. State of Michigan Retirement System now owns 473,057 shares of the healthcare product maker’s stock valued at $64,340,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $125.78 on Wednesday. The firm has a market capitalization of $218.71 billion, a PE ratio of 15.76, a PEG ratio of 2.36 and a beta of 0.68. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The firm’s fifty day simple moving average is $131.17 and its 200 day simple moving average is $131.52.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. The company had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. Abbott Laboratories’s payout ratio is 29.57%.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the sale, the chief financial officer owned 51,003 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABT. Mizuho lifted their price target on Abbott Laboratories from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Raymond James Financial lifted their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. Finally, Morgan Stanley increased their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus target price of $147.00.

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.