Abbott Laboratories $ABT Shares Bought by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in Abbott Laboratories by 12.4%, owning a total of 669,868 shares worth approximately $91 million following the transaction.
• Abbott Laboratories reported quarterly earnings of $1.26 per share, matching analysts' expectations and showing a revenue increase of 7.4% year-over-year.
• The company announced a quarterly dividend of $0.59, set to be paid on November 17th, with a dividend yield of 1.8%.

Janney Montgomery Scott LLC raised its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 12.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 669,868 shares of the healthcare product maker's stock after acquiring an additional 73,780 shares during the period. Janney Montgomery Scott LLC's holdings in Abbott Laboratories were worth $91,109,000 as of its most recent SEC filing.

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

Insider Activity

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction on 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Price Performance

NYSE ABT opened at $133.01 on Tuesday. The stock has a market capitalization of $231.49 billion, a P/E ratio of 16.67, a P/E/G ratio of 2.53 and a beta of 0.69. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The business's fifty day moving average is $131.31 and its two-hundred day moving average is $131.20. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.26. The company 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 firm's revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $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, research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be issued a $0.59 dividend. 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 is currently 29.57%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ABT. Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their price target for the company from $143.00 to $145.00 in a report on Friday, July 18th. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. William Blair raised Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. 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, Wells Fargo & Company dropped their target price on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $145.22.

Abbott Laboratories 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.

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