MGO One Seven LLC Raises Holdings in Abbott Laboratories $ABT

MGO One Seven LLC boosted its stake in Abbott Laboratories (NYSE:ABT) by 72.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,815 shares of the healthcare product maker’s stock after purchasing an additional 18,412 shares during the period. MGO One Seven LLC’s holdings in Abbott Laboratories were worth $5,869,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. IMG Wealth Management Inc. raised its holdings in Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 167 shares during the last quarter. Anfield Capital Management LLC increased its position in shares of Abbott Laboratories by 81.3% in the second quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after acquiring an additional 104 shares during the period. Delos Wealth Advisors LLC purchased a new position in shares of Abbott Laboratories in the second quarter valued at about $32,000. Curio Wealth LLC raised its stake in shares of Abbott Laboratories by 15,250.0% during the second quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock valued at $42,000 after acquiring an additional 305 shares during the last quarter. Finally, Pineridge Advisors LLC boosted its holdings in shares of Abbott Laboratories by 34.6% during the second quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock worth $43,000 after purchasing an additional 81 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $124.63 on Tuesday. The company’s fifty day moving average price is $126.15 and its 200-day moving average price is $129.24. The stock has a market cap of $216.72 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 2.09 and a beta of 0.72. The company has a current ratio of 1.70, a quick ratio of 1.24 and a debt-to-equity ratio of 0.23. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The company had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same period last year, the business earned $1.21 EPS. Abbott Laboratories’s quarterly revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Thursday, January 15th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s dividend payout ratio (DPR) is currently 29.57%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wells Fargo & Company upped their price target on Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Evercore ISI upped their target price on Abbott Laboratories from $142.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, January 5th. Raymond James Financial lifted their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Barclays upped their price objective on shares of Abbott Laboratories from $162.00 to $169.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Abbott Laboratories in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.68.

About Abbott Laboratories

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.