Abbott Laboratories $ABT Shares Acquired by KFG Wealth Management LLC

Key Points

• KFG Wealth Management LLC increased its stake in Abbott Laboratories shares by 97.2%, owning 5,278 shares valued at $718,000 after purchasing an additional 2,602 shares during Q2.
• Abbott Laboratories reported earnings of $1.26 EPS for the last quarter, in line with expectations, and had a revenue of $11.14 billion, surpassing the consensus estimate.
• The company announced a dividend of $0.59 per share to be paid on November 17, with a 1.7% yield and a dividend payout ratio of 29.57%.

KFG Wealth Management LLC lifted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 97.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,278 shares of the healthcare product maker's stock after purchasing an additional 2,602 shares during the quarter. KFG Wealth Management LLC's holdings in Abbott Laboratories were worth $718,000 as of its most recent filing with the Securities and Exchange Commission.

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

Abbott Laboratories Trading Up 1.2%

Abbott Laboratories stock opened at $136.22 on Monday. 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 company has a market capitalization of $237.09 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 2.58 and a beta of 0.69. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The company's fifty day moving average price is $130.47 and its two-hundred day moving average price is $131.12.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting the consensus estimate of $1.26. The firm had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business's quarterly revenue was up 7.4% on a year-over-year basis. 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. On average, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ABT. BTIG Research decreased their price target on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Leerink Partners began coverage on Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 price target for the company. Mizuho increased their price target 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 raised Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Finally, Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and increased their price target for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $145.22.

Insider Buying and Selling

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories 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 directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is owned by insiders.

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.

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