2,433 Shares in Abbott Laboratories $ABT Acquired by Family Legacy Financial Solutions LLC

Key Points

• Family Legacy Financial Solutions LLC established a new position in Abbott Laboratories, acquiring 2,433 shares valued at approximately $331,000 during the second quarter.
• Abbott Laboratories reported $1.26 EPS for the last quarter, aligning with consensus estimates, and had a revenue of $11.14 billion, indicating a 7.4% year-over-year growth.
• Analysts have raised their ratings for Abbott Laboratories, with Jefferies Financial Group upgrading it to a "buy" and increasing the price target from $143.00 to $145.00.

Family Legacy Financial Solutions LLC acquired a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,433 shares of the healthcare product maker's stock, valued at approximately $331,000.

Other institutional investors also recently modified their holdings of the company. Hughes Financial Services LLC bought a new position in Abbott Laboratories in the first quarter worth about $27,000. Abound Financial LLC bought a new stake in Abbott Laboratories in the 1st quarter valued at $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories during the first quarter worth $30,000. Wormser Freres Gestion purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $32,000. Finally, JCIC Asset Management Inc. purchased a new position in Abbott Laboratories in the first quarter worth $32,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Leerink Partners assumed coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 target price for the company. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Raymond James Financial dropped their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a report on Friday, July 18th. Evercore ISI upped their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley increased their target price on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $145.22.

Abbott Laboratories Stock Up 1.2%

NYSE:ABT traded up $1.65 during trading hours on Friday, hitting $136.22. 11,531,874 shares of the company traded hands, compared to its average volume of 4,828,819. The company has a market cap of $237.09 billion, a PE 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 has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The firm's 50-day simple moving average is $130.47 and its 200-day simple moving average is $131.14.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same quarter last year, the firm earned $1.14 EPS. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.7%. Abbott Laboratories's dividend payout ratio is currently 29.57%.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the 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 transaction, the chief financial officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.