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 Stock Performance

ABT opened at $127.69 on Monday. The company has a 50 day simple moving average of $116.37 and a two-hundred day simple moving average of $114.25. The firm has a market cap of $221.47 billion, a P/E ratio of 16.69, a PEG ratio of 2.38 and a beta of 0.73. Abbott Laboratories has a 1-year low of $99.71 and a 1-year high of $129.85. 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 (NYSE:ABT) last issued its quarterly earnings results on Wednesday, January 22nd. The healthcare product maker reported $1.34 earnings per share for the quarter, hitting the consensus estimate of $1.34. Abbott Laboratories had a return on equity of 20.74% and a net margin of 31.95%. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. Equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal 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 given a dividend of $0.59 per share. The ex-dividend date is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.85%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio is presently 30.85%.

Institutional Investors Weigh In On Abbott Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the company. Creekside Partners acquired a new position in Abbott Laboratories during the 2nd quarter valued at approximately $238,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Abbott Laboratories by 920.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 386,000 shares of the healthcare product maker’s stock worth $40,109,000 after acquiring an additional 348,170 shares in the last quarter. Anchor Investment Management LLC lifted its stake in Abbott Laboratories by 0.4% during the second quarter. Anchor Investment Management LLC now owns 52,728 shares of the healthcare product maker’s stock valued at $5,479,000 after buying an additional 232 shares in the last quarter. Mattson Financial Services LLC acquired a new stake in Abbott Laboratories during the 2nd quarter valued at $2,547,000. Finally, Doliver Advisors LP increased its holdings in shares of Abbott Laboratories by 2.9% in the 3rd quarter. Doliver Advisors LP now owns 13,531 shares of the healthcare product maker’s stock valued at $1,543,000 after purchasing an additional 378 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABT. Piper Sandler upped their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Stifel Nicolaus upped their price target on Abbott Laboratories from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Barclays restated an “overweight” rating and set a $158.00 price target (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Jefferies Financial Group boosted their price objective on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, UBS Group raised their price objective on shares of Abbott Laboratories from $146.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $133.06.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the stock in a transaction 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 represents a 15.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company 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.