Jefferies Financial Group Inc. Buys 43,939 Shares of Abbott Laboratories (NYSE:ABT)

Key Points

• Jefferies Financial Group Inc. increased its stake in Abbott Laboratories by 22.0%, acquiring an additional 43,939 shares, bringing its total holdings to 243,548 shares valued at approximately $32.3 million.
• Analysts have a consensus rating of "Moderate Buy" on Abbott Laboratories, with a price target averaging $144.47, while individual analysts have varied opinions, including a $145.00 target from Piper Sandler.
• Abbott Laboratories reported $1.26 earnings per share with 7.4% revenue growth year-over-year and announced a quarterly dividend of $0.59 per share, reflecting a 1.9% dividend yield.

Jefferies Financial Group Inc. lifted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 22.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 243,548 shares of the healthcare product maker's stock after purchasing an additional 43,939 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Abbott Laboratories were worth $32,307,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Howland Capital Management LLC grew its holdings in Abbott Laboratories by 38.1% during the 1st quarter. Howland Capital Management LLC now owns 42,147 shares of the healthcare product maker's stock valued at $5,591,000 after buying an additional 11,636 shares in the last quarter. Nicolet Advisory Services LLC boosted its position in shares of Abbott Laboratories by 6.5% in the first quarter. Nicolet Advisory Services LLC now owns 35,160 shares of the healthcare product maker's stock valued at $4,377,000 after acquiring an additional 2,156 shares during the period. Pasadena Private Wealth LLC bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $310,000. Coastal Bridge Advisors LLC bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $205,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Abbott Laboratories by 54.3% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 29,763 shares of the healthcare product maker's stock valued at $3,948,000 after purchasing an additional 10,476 shares during the period. Hedge funds and other institutional investors own 75.18% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ABT shares. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Piper Sandler reaffirmed an "overweight" rating and issued a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a report on Thursday, April 17th. William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. BTIG Research lowered their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Finally, Mizuho boosted their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

Abbott Laboratories Trading Down 1.9%

ABT opened at $126.16 on Friday. Abbott Laboratories has a one year low of $103.55 and a one year high of $141.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.78 and a quick ratio of 1.27. The business has a 50 day simple moving average of $131.86 and a two-hundred day simple moving average of $130.26. The firm has a market capitalization of $219.50 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 2.44 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. The firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The business's revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 EPS. Analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.9%. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

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.

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