Trinity Legacy Partners LLC Has $2.28 Million Stock Holdings in Abbott Laboratories $ABT

Key Points

• Trinity Legacy Partners LLC increased its stake in Abbott Laboratories by 1,002% during Q2, owning 17,301 shares valued at approximately $2.28 million.
• Abbott Laboratories reported Q2 earnings of $1.26 per share, meeting estimates, with revenues of $11.14 billion, exceeding analyst expectations of $11.01 billion.
• The company declared a quarterly dividend of $0.59 per share, with an annualized yield of 1.8%, to be paid on November 17th to shareholders of record on October 15th.

Trinity Legacy Partners LLC boosted its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1,002.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,301 shares of the healthcare product maker's stock after buying an additional 15,731 shares during the period. Trinity Legacy Partners LLC's holdings in Abbott Laboratories were worth $2,279,000 as of its most recent SEC filing.

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

Abbott Laboratories Price Performance

ABT opened at $133.05 on Friday. The firm has a market cap of $231.56 billion, a P/E ratio of 16.67, a PEG ratio of 2.53 and a beta of 0.69. The firm has a 50-day moving average of $131.78 and a 200 day moving average of $131.28. 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 Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting the consensus estimate of $1.26. The company had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business 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, research analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 29.57%.

Analysts Set New Price Targets

ABT has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Mizuho upped their target price 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. Evercore ISI upped their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Raymond James Financial reduced their target price on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, July 18th. Finally, Morgan Stanley upped their target price 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. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $145.39.

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. 0.46% of the stock is owned by corporate insiders.

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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