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

Other large investors also recently bought and sold shares of the company. Kelly Financial Services LLC purchased a new stake in Abbott Laboratories during the 1st quarter worth approximately $216,000. Bank Pictet & Cie Europe AG lifted its stake in Abbott Laboratories by 1.9% during 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 acquiring an additional 2,774 shares during the period. Edge Financial Advisors LLC lifted its stake in Abbott Laboratories by 3.3% during the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after acquiring an additional 81 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Abbott Laboratories during the 4th quarter valued at approximately $84,418,000. Finally, SageView Advisory Group LLC lifted its stake 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 acquiring an additional 2,873 shares during the period. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

Shares of ABT traded up $1.65 during trading hours on Friday, hitting $136.22. The stock had a trading volume of 11,531,874 shares, compared to its average volume of 4,828,819. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The firm has a 50-day moving average price of $130.47 and a 200 day moving average price of $131.19. The firm has a market capitalization of $237.09 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 2.55 and a beta of 0.69. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted 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 company had revenue of $11.14 billion during the quarter, compared to analysts' expectations of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm's revenue for the quarter 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. As a group, research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a yield of 1.7%. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Analyst Ratings Changes

Several analysts have commented on the stock. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their price objective for the company from $143.00 to $145.00 in a research note on Friday, July 18th. Wells Fargo & Company decreased their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Morgan Stanley lifted their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Mizuho boosted their target price on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Finally, BTIG Research decreased their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, July 18th. 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $145.22.

Insiders Place Their Bets

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 shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer directly owned 51,003 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company's stock.

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.