Mogy Joel R Investment Counsel Inc. Purchases 13,200 Shares of Abbott Laboratories $ABT

Key Points

• Mogy Joel R Investment Counsel Inc. increased its stake in Abbott Laboratories by 25.8%, acquiring 13,200 additional shares, bringing its total ownership to 64,441 shares valued at approximately $8.76 million.
• Analysts have given Abbott Laboratories a consensus rating of "Moderate Buy" with a price target range between $140.00 and $147.00, reflecting positive sentiment about the stock's performance.
• Abbott Laboratories reported earnings of $1.26 EPS for the last quarter, matching analysts' expectations and demonstrating a 7.4% year-over-year revenue growth to $11.14 billion.

Mogy Joel R Investment Counsel Inc. lifted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 25.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,441 shares of the healthcare product maker's stock after acquiring an additional 13,200 shares during the period. Mogy Joel R Investment Counsel Inc.'s holdings in Abbott Laboratories were worth $8,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Kelly Financial Services LLC purchased a new position in Abbott Laboratories during the 1st quarter valued at $216,000. Bank Pictet & Cie Europe AG boosted its holdings 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 worth $17,274,000 after buying an additional 2,774 shares during the period. Edge Financial Advisors LLC lifted its stake 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 worth $336,000 after purchasing an additional 81 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Abbott Laboratories in the 4th quarter worth about $84,418,000. Finally, SageView Advisory Group LLC grew its holdings in Abbott Laboratories by 18.6% during 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 purchasing an additional 2,873 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business'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 sale, the chief financial officer owned 51,003 shares of the company's stock, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Stock Up 1.2%

ABT traded up $1.65 on Friday, reaching $136.22. The company's stock had a trading volume of 11,531,874 shares, compared to its average volume of 4,828,819. The stock has a market cap of $237.09 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.58 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 company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The business's 50 day moving average is $130.47 and its 200 day moving average is $131.14.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data 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 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%.Abbott Laboratories's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm 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 forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ABT shares. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Mizuho lifted their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. BTIG Research dropped their target price on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Morgan Stanley lifted their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Finally, Evercore ISI raised their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Two 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $145.22.

Abbott Laboratories Company 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.