Abbott Laboratories $ABT Shares Bought by Inspirion Wealth Advisors LLC

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 boosted its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,829 shares of the healthcare product maker's stock after acquiring an additional 4,055 shares during the period. Abbott Laboratories accounts for 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Kelly Financial Services LLC purchased a new stake in Abbott Laboratories in the 1st quarter valued at $216,000. Bank Pictet & Cie Europe AG raised its position in Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after buying an additional 2,774 shares during the last quarter. Edge Financial Advisors LLC raised its position in Abbott Laboratories by 3.3% in the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after buying an additional 81 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Abbott Laboratories in the 4th quarter valued at $84,418,000. Finally, SageView Advisory Group LLC raised its position in Abbott Laboratories by 18.6% in the 1st quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker's stock valued at $2,427,000 after buying an additional 2,873 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm'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 completion of the sale, the chief financial officer directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

ABT traded up $1.65 during midday trading on Friday, reaching $136.22. The company had a trading volume of 11,531,874 shares, compared to its average volume of 4,828,819. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average of $130.47 and a two-hundred day moving average of $131.19. The company has a market cap of $237.09 billion, a P/E ratio of 17.07, a P/E/G ratio of 2.55 and a beta of 0.69. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts' consensus estimates of $1.26. The firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company 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, equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ABT. Evercore ISI raised their target price on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. BTIG Research decreased their target price on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Morgan Stanley raised their target price 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. William Blair raised Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Finally, Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and increased their price target for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $145.22.

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.