Abbott Laboratories $ABT Shares Bought by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. grew its position in shares of Abbott Laboratories (NYSE:ABT) by 16.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,553 shares of the healthcare product maker’s stock after purchasing an additional 3,484 shares during the period. Abbott Laboratories makes up about 1.1% of Cornell Pochily Investment Advisors Inc.’s holdings, making the stock its 22nd largest holding. Cornell Pochily Investment Advisors Inc.’s holdings in Abbott Laboratories were worth $3,339,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ABT. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories in the first quarter valued at approximately $27,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories in the first quarter valued at approximately $28,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories in the first quarter valued at approximately $30,000. JCIC Asset Management Inc. acquired a new position in shares of Abbott Laboratories in the first quarter valued at approximately $32,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Abbott Laboratories in the first quarter valued at $33,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the topic of several analyst reports. Jefferies Financial Group upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and increased their price objective for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Leerink Partners initiated coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a “market perform” rating and a $143.00 price objective on the stock. Mizuho increased their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Finally, Wells Fargo & Company reduced 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, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $145.39.

Insider Activity

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Down 0.3%

Abbott Laboratories stock opened at $133.05 on Friday. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The stock has a market cap 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 stock’s fifty day moving average is $131.78 and its two-hundred day moving average is $131.28.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results 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 analysts’ expectations of $11.01 billion. During the same period last year, the firm earned $1.14 earnings per share. Abbott Laboratories’s quarterly revenue was up 7.4% on a year-over-year basis. 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, sell-side analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued 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 dividend payout ratio (DPR) is presently 29.57%.

About Abbott Laboratories

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.