MBL Wealth LLC Invests $314,000 in Abbott Laboratories $ABT

Key Points

• MBL Wealth LLC invested approximately $314,000 in Abbott Laboratories, acquiring 2,367 shares in the first quarter of 2023.
• Abbott Laboratories recently reported $1.26 earnings per share for the quarter, meeting analyst expectations, with a revenue of $11.14 billion.
• The company announced a quarterly dividend of $0.59 per share, yielding 1.8% on an annualized basis, with a payout ratio of 29.57%.

MBL Wealth LLC acquired a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,367 shares of the healthcare product maker's stock, valued at approximately $314,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories during the first quarter worth about $27,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories during the first quarter worth about $28,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories during the first quarter worth about $30,000. JCIC Asset Management Inc. bought a new stake in Abbott Laboratories during the first quarter worth about $32,000. Finally, Vision Financial Markets LLC bought a new stake in Abbott Laboratories during the first quarter worth about $33,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the topic of several analyst reports. Raymond James Financial dropped their target price on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a report on Friday, July 18th. Morgan Stanley upped their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and upped their target price for the stock from $143.00 to $145.00 in a report on Friday, July 18th. Wells Fargo & Company dropped their target price on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Finally, William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

Abbott Laboratories Price Performance

NYSE:ABT opened at $129.39 on Thursday. 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 stock's 50 day moving average price is $130.43 and its two-hundred day moving average price is $131.35. The firm has a market capitalization of $225.20 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 2.50 and a beta of 0.69. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released 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 analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business'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 company earned $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. On average, analysts anticipate 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 was paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, July 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories's dividend payout ratio (DPR) is 29.57%.

Insider Buying and Selling at Abbott Laboratories

In other 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 transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company's stock.

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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