Klein Pavlis & Peasley Financial Inc. Acquires Shares of 17,000 Abbott Laboratories $ABT

Key Points

• Klein Pavlis & Peasley Financial Inc. has acquired 17,000 shares of Abbott Laboratories (NYSE: ABT) for approximately $2.31 million, making it the firm’s 24th biggest holding.
• The quarterly earnings report for Abbott Laboratories revealed a net margin of 32.43% and earnings per share of $1.26, aligning with consensus estimates and showing year-over-year revenue growth of 7.4%.
• Abbott Laboratories announced a $0.59 quarterly dividend, set to be paid on November 17th, with an annualized dividend yield of 1.8%.

Klein Pavlis & Peasley Financial Inc. bought a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,000 shares of the healthcare product maker's stock, valued at approximately $2,312,000. Abbott Laboratories accounts for about 1.5% of Klein Pavlis & Peasley Financial Inc.'s investment portfolio, making the stock its 24th biggest position.

Several other institutional investors also recently added to or reduced their stakes in ABT. Brighton Jones LLC boosted its position in Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after acquiring an additional 4,755 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of Abbott Laboratories by 28.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 42,105 shares of the healthcare product maker's stock worth $5,585,000 after purchasing an additional 9,412 shares during the last quarter. Allied Investment Advisors LLC boosted its position in Abbott Laboratories by 4.0% during the first quarter. Allied Investment Advisors LLC now owns 90,070 shares of the healthcare product maker's stock valued at $11,948,000 after purchasing an additional 3,489 shares in the last quarter. Abner Herrman & Brock LLC purchased a new position in Abbott Laboratories in the first quarter valued at about $18,225,000. Finally, Aletheian Wealth Advisors LLC bought a new position in Abbott Laboratories in the first quarter worth about $210,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insider Buying and Selling at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm'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 owned 51,003 shares of the company's stock, valued at $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

Abbott Laboratories Price Performance

NYSE ABT opened at $133.62 on Monday. The company has a market cap of $232.56 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 2.53 and a beta of 0.69. 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 stock's fifty day moving average price is $131.14 and its 200 day moving average price is $131.16. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

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 for the quarter, meeting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter in the previous year, the business earned $1.14 EPS. The company'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. As a group, equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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 issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio is 29.57%.

Wall Street Analysts Forecast Growth

ABT has been the topic of a number of analyst reports. 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. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Morgan Stanley upped their price target on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Wells Fargo & Company lowered their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Finally, Leerink Partners started coverage on Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $145.22.

About Abbott Laboratories

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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