Phoenix Financial Ltd. Purchases 13,666 Shares of Abbott Laboratories $ABT

Key Points

• Phoenix Financial Ltd. increased its stake in Abbott Laboratories by 54.6%, acquiring an additional 13,666 shares to hold a total of 38,679 shares valued at approximately $5.26 million.
• Abbott Laboratories reported quarterly earnings of $1.30 per share, matching consensus expectations, with revenue reaching $11.37 billion, slightly below analyst estimates.
• The company declared a quarterly dividend of $0.59 per share, with an ex-dividend date of October 15th, which represents a yield of 1.8%.

Phoenix Financial Ltd. lifted its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 54.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,679 shares of the healthcare product maker's stock after acquiring an additional 13,666 shares during the period. Phoenix Financial Ltd.'s holdings in Abbott Laboratories were worth $5,258,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter valued at $27,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter valued at $28,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories during the 1st quarter valued at $30,000. JCIC Asset Management Inc. acquired a new position in shares of Abbott Laboratories during the 1st quarter valued at $32,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Abbott Laboratories during the 1st quarter valued at $33,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Price Performance

ABT opened at $129.49 on Tuesday. The firm has a market cap of $225.38 billion, a P/E ratio of 16.23, a PEG ratio of 2.44 and a beta of 0.69. The firm has a 50-day moving average of $132.34 and a 200 day moving average of $131.57. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, meeting the consensus estimate of $1.30. The company had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ABT shares. Benchmark assumed coverage on shares of Abbott Laboratories in a research report on Friday, October 10th. They set a "buy" rating and a $145.00 target price on the stock. Barclays upped their price objective on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an "overweight" rating in a report on Friday. BTIG Research restated a "buy" rating and set a $145.00 price objective on shares of Abbott Laboratories in a report on Wednesday, October 15th. Mizuho upped their price objective on shares of Abbott Laboratories from $135.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, October 14th. Finally, Sanford C. Bernstein upped their price objective on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $147.61.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction dated 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 in the company, 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 Securities & Exchange Commission, which is available 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.

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