MGO One Seven LLC Acquires 4,109 Shares of Abbott Laboratories $ABT

Key Points

• MGO One Seven LLC increased its holdings in Abbott Laboratories by 19.3%, acquiring an additional 4,109 shares, bringing their total to 25,403 shares worth $3,455,000.
• Several hedge funds recently purchased shares of Abbott, indicating a strong interest from institutional investors who now own 75.18% of the company's stock.
• Abbott Laboratories reported earnings of $1.26 EPS, meeting estimates, with quarterly revenues up 7.4% year-over-year, alongside a quarterly dividend of $0.59 per share set for November 17th.

MGO One Seven LLC increased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 19.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 25,403 shares of the healthcare product maker's stock after acquiring an additional 4,109 shares during the period. MGO One Seven LLC's holdings in Abbott Laboratories were worth $3,455,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Hughes Financial Services LLC bought a new position in Abbott Laboratories in the 1st quarter worth about $27,000. Abound Financial LLC bought a new position in Abbott Laboratories in the first quarter worth approximately $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories during the 1st quarter worth $30,000. JCIC Asset Management Inc. bought a new stake in Abbott Laboratories during the 1st quarter valued at $32,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth $33,000. Institutional investors own 75.18% of the company's stock.

Wall Street Analyst Weigh In

ABT has been the topic of several research reports. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their price target for the company from $143.00 to $145.00 in a report on Friday, July 18th. Evercore ISI increased their price objective on shares of Abbott Laboratories from $140.00 to $144.00 and gave the company an "outperform" rating in a research note on Tuesday, October 7th. Morgan Stanley boosted their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada increased their target price on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $146.17.

Abbott Laboratories Stock Performance

Shares of ABT opened at $131.52 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The firm has a market cap of $228.90 billion, a PE ratio of 16.48, a P/E/G ratio of 2.51 and a beta of 0.69. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The stock has a fifty day moving average price of $132.57 and a 200-day moving average price of $131.60.

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, meeting the consensus estimate of $1.26. The company 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 firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. Equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Insider Transactions at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories 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 sale, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.

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