Sen. Markwayne Mullin Sells Off Shares of Abbott Laboratories (NYSE:ABT)

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 Trading Down 0.9 %

ABT stock opened at $127.69 on Friday. The company has a market capitalization of $221.47 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 2.38 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.60 and a quick ratio of 1.14. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $129.85. The business has a 50 day simple moving average of $116.17 and a two-hundred day simple moving average of $114.00.

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

Abbott Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is 30.85%.

Hedge Funds Weigh In On Abbott Laboratories

Several hedge funds have recently bought and sold shares of ABT. State Street Corp increased its stake in Abbott Laboratories by 3.1% in the 3rd quarter. State Street Corp now owns 76,720,429 shares of the healthcare product maker’s stock worth $8,746,896,000 after buying an additional 2,323,807 shares during the period. Geode Capital Management LLC increased its position in shares of Abbott Laboratories by 1.4% during the third quarter. Geode Capital Management LLC now owns 34,903,198 shares of the healthcare product maker’s stock worth $3,963,974,000 after acquiring an additional 488,764 shares during the period. Wellington Management Group LLP raised its stake in shares of Abbott Laboratories by 1.1% during the third quarter. Wellington Management Group LLP now owns 25,810,977 shares of the healthcare product maker’s stock valued at $2,942,709,000 after acquiring an additional 280,441 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Abbott Laboratories by 25.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker’s stock worth $1,518,539,000 after purchasing an additional 2,711,586 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in Abbott Laboratories by 5.6% during the 3rd quarter. Fisher Asset Management LLC now owns 11,102,204 shares of the healthcare product maker’s stock valued at $1,265,762,000 after purchasing an additional 585,915 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ABT. Wells Fargo & Company boosted their target price on Abbott Laboratories from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Raymond James reaffirmed a “buy” rating and set a $129.00 price objective (up from $122.00) on shares of Abbott Laboratories in a report on Monday, October 14th. Oppenheimer assumed coverage on shares of Abbott Laboratories in a report on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 target price for the company. Morgan Stanley upped their price target on shares of 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 lifted their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $133.06.

Insider Transactions at Abbott Laboratories

In related news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $128.50, for a total transaction of $3,054,573.50. Following the transaction, the executive vice president now directly owns 125,697 shares of the company’s stock, valued at $16,152,064.50. This trade represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

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

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.