Triton Financial Group Inc Acquires Shares of 17,569 Abbott Laboratories $ABT

Key Points

• Triton Financial Group Inc acquired 17,569 shares of Abbott Laboratories (NYSE: ABT), valued at approximately $2,390,000, making it the company's 14th largest holding.
• Abbott Laboratories recently declared a quarterly dividend of $0.59 per share, representing an annualized dividend of $2.36 and a dividend yield of 1.8%.
• A number of analysts have revised their price targets for Abbott Laboratories, with new targets ranging from $140.00 to $162.00, indicating a consensus rating of "Moderate Buy."

Triton Financial Group Inc acquired a new stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 17,569 shares of the healthcare product maker's stock, valued at approximately $2,390,000. Abbott Laboratories comprises 1.7% of Triton Financial Group Inc's portfolio, making the stock its 14th largest holding.

A number of other large investors have also recently made changes to their positions in ABT. Brighton Jones LLC boosted its stake in shares of Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after purchasing an additional 4,755 shares during the period. GAMMA Investing LLC boosted its stake in shares of Abbott Laboratories by 17.0% during the first quarter. GAMMA Investing LLC now owns 38,467 shares of the healthcare product maker's stock valued at $5,103,000 after purchasing an additional 5,590 shares during the period. Advisor Resource Council purchased a new stake in shares of Abbott Laboratories during the first quarter valued at $334,000. Ridgecrest Wealth Partners LLC boosted its stake in shares of Abbott Laboratories by 4.7% during the first quarter. Ridgecrest Wealth Partners LLC now owns 6,743 shares of the healthcare product maker's stock valued at $894,000 after purchasing an additional 300 shares during the period. Finally, Live Oak Private Wealth LLC boosted its stake in shares of Abbott Laboratories by 0.3% during the first quarter. Live Oak Private Wealth LLC now owns 80,174 shares of the healthcare product maker's stock valued at $10,635,000 after purchasing an additional 250 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Abbott Laboratories

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 sale, the chief financial officer directly owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

ABT stock opened at $129.49 on Tuesday. The firm has a market cap of $225.38 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 2.44 and a beta of 0.69. The firm has a 50-day simple moving average of $132.34 and a two-hundred day simple moving average of $131.57. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. 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 (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. The business 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 company's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared 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 dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories's dividend payout ratio is presently 29.57%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Mizuho boosted their target price on shares of Abbott Laboratories from $135.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday, October 14th. Evercore ISI lowered their price objective on shares of Abbott Laboratories from $144.00 to $142.00 and set an "outperform" rating for the company in a research note on Wednesday, October 15th. 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 research note on Friday. The Goldman Sachs Group upped their price objective on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. 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 research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.61.

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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