Welch Group LLC Grows Position in Abbott Laboratories $ABT

Key Points

• Welch Group LLC increased its holdings in Abbott Laboratories by 6.2%, owning a total of 74,915 shares valued at approximately $10.2 million.
• Abbott Laboratories reported earnings per share of $1.26 for the last quarter, matching analysts' expectations, with a revenue of $11.14 billion, an increase of 7.4% year-over-year.
• The company announced a quarterly dividend of $0.59 per share, with a payout ratio of 29.57%, set to be distributed on November 17th.

Welch Group LLC raised its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 6.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,915 shares of the healthcare product maker's stock after acquiring an additional 4,362 shares during the quarter. Welch Group LLC's holdings in Abbott Laboratories were worth $10,189,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ABT. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the first quarter worth about $27,000. Abound Financial LLC bought a new stake in Abbott Laboratories during the first quarter worth approximately $28,000. Elequin Capital LP purchased a new position in shares of Abbott Laboratories during the first quarter valued at approximately $30,000. JCIC Asset Management Inc. purchased a new position in shares of Abbott Laboratories during the first quarter valued at approximately $32,000. Finally, Vision Financial Markets LLC purchased a new position in shares of Abbott Laboratories during the first quarter valued at approximately $33,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Down 0.8%

Shares of NYSE ABT opened at $132.30 on Monday. The company has a 50 day simple moving average of $132.54 and a 200-day simple moving average of $131.60. The company has a market capitalization of $230.26 billion, a P/E ratio of 16.58, a P/E/G ratio of 2.51 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its 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. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. During the same quarter last year, the firm earned $1.14 EPS. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. 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, equities research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 payout ratio is 29.57%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABT. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Mizuho upped their target price on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their target price for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Finally, BTIG Research cut their target price on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $146.17.

Insider Activity

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 of the company's stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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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