Inspirion Wealth Advisors LLC Buys 4,055 Shares of Abbott Laboratories $ABT

Key Points

• Inspirion Wealth Advisors LLC increased its stake in Abbott Laboratories by 2.2%, now owning 189,829 shares valued at approximately $25.8 million, making it the firm's 12th largest holding.
• Abbott Laboratories reported $1.26 EPS for the recent quarter, aligning with expectations, while revenue rose 7.4% year-over-year to $11.14 billion.
• Wall Street analysts maintain a Moderate Buy consensus rating for Abbott Laboratories, with target prices generally around $144.47.

Inspirion Wealth Advisors LLC grew its position in Abbott Laboratories (NYSE:ABT - Free Report) by 2.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 189,829 shares of the healthcare product maker's stock after buying an additional 4,055 shares during the period. Abbott Laboratories makes up about 3.4% of Inspirion Wealth Advisors LLC's investment portfolio, making the stock its 12th largest holding. Inspirion Wealth Advisors LLC's holdings in Abbott Laboratories were worth $25,819,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABT. Hughes Financial Services LLC bought a new position in shares of Abbott Laboratories during the first quarter worth $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $30,000. JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories during the 1st quarter valued at approximately $32,000. Finally, Vision Financial Markets LLC acquired a new stake in Abbott Laboratories during the 1st quarter valued at approximately $33,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of research reports. Raymond James Financial dropped their target price on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Royal Bank Of Canada raised their target price on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Mizuho lifted their price objective on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Evercore ISI boosted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, Leerink Partners started coverage on Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $145.22.

Abbott Laboratories Stock Performance

Shares of NYSE ABT traded up $1.65 during trading hours on Friday, reaching $136.22. The stock had a trading volume of 11,531,874 shares, compared to its average volume of 4,828,819. The business's fifty day moving average is $130.47 and its two-hundred day moving average is $131.14. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The company has a market cap of $237.09 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 2.58 and a beta of 0.69. 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 (NYSE:ABT - Get Free Report) last announced 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. The firm had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business's revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $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 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 paid a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.7%. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value 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 represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company's stock.

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.