Abbott Laboratories (NYSE:ABT) Stock Unloaded Sen. Markwayne Mullin

Senator Markwayne Mullin (R-Oklahoma) recently sold shares of Abbott Laboratories (NYSE:ABT). In a filing disclosed on January 31st, the Senator disclosed that they had sold between $1,001 and $15,000 in Abbott Laboratories stock on January 8th.

Senator Markwayne Mullin also recently made the following trade(s):

  • Sold $15,001 – $50,000 in shares of iShares Core MSCI EAFE ETF (BATS:IEFA) on 1/8/2025.
  • Sold $15,001 – $50,000 in shares of iShares MSCI Eurozone ETF (BATS:EZU) on 1/8/2025.
  • Purchased $15,001 – $50,000 in shares of The Goldman Sachs Group (NYSE:GS) on 1/2/2025.
  • Purchased $15,001 – $50,000 in shares of Iron Mountain (NYSE:IRM) on 1/2/2025.
  • Purchased $15,001 – $50,000 in shares of Coherent (NYSE:COHR) on 1/2/2025.
  • Purchased $15,001 – $50,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/2/2025.
  • Purchased $15,001 – $50,000 in shares of Westinghouse Air Brake Technologies (NYSE:WAB) on 1/2/2025.
  • Purchased $15,001 – $50,000 in shares of Dell Technologies (NYSE:DELL) on 1/2/2025.
  • Purchased $15,001 – $50,000 in shares of Applied Industrial Technologies (NYSE:AIT) on 1/2/2025.
  • Purchased $15,001 – $50,000 in shares of Stride (NYSE:LRN) on 1/2/2025.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $127.69 on Friday. The stock has a market cap of $221.47 billion, a P/E ratio of 16.69, a P/E/G ratio of 2.38 and a beta of 0.73. The firm’s 50-day simple moving average is $116.37 and its 200 day simple moving average is $114.17. Abbott Laboratories has a fifty-two week low of $99.71 and a fifty-two week high of $129.85. The company has a quick ratio of 1.14, a current ratio of 1.60 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABTGet Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.34. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.03 billion. During the same period last year, the firm posted $1.19 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Equities analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a $0.59 dividend. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.85%. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Mizuho raised their price objective on Abbott Laboratories from $115.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Argus raised shares of Abbott Laboratories to a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays reaffirmed an “overweight” rating and set a $158.00 price target (up from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Morgan Stanley boosted their price target on Abbott Laboratories from $107.00 to $117.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein raised their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $133.06.

Check Out Our Latest Stock Analysis on ABT

Hedge Funds Weigh In On Abbott Laboratories

A number of hedge funds have recently modified their holdings of the stock. Groupama Asset Managment increased its holdings in shares of Abbott Laboratories by 22.2% during the third quarter. Groupama Asset Managment now owns 228,448 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 41,557 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Abbott Laboratories during the 3rd quarter valued at $31,000. Peterson Financial Group Inc. bought a new position in Abbott Laboratories in the 3rd quarter valued at $32,000. Valued Wealth Advisors LLC boosted its stake in Abbott Laboratories by 78.4% in the third quarter. Valued Wealth Advisors LLC now owns 289 shares of the healthcare product maker’s stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Abbott Laboratories during the fourth quarter worth $34,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $128.50, for a total value of $3,054,573.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at approximately $16,152,064.50. This trade represents a 15.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

About Abbott Laboratories

(Get Free Report)

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.

Further Reading

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