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 Up 0.6 %

Shares of ABT stock traded up $0.73 during trading hours on Tuesday, reaching $129.18. The company had a trading volume of 6,957,177 shares, compared to its average volume of 7,189,099. The company has a market cap of $224.06 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. 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 12 month low of $99.71 and a 12 month high of $129.85. The business has a fifty day simple moving average of $116.58 and a 200-day simple moving average of $114.52.

Abbott Laboratories (NYSE:ABT - Get 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, hitting analysts' consensus estimates of $1.34. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.03 billion. Abbott Laboratories had a net margin of 31.95% and a return on equity of 20.74%. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 EPS. On average, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.59 per share. This is a positive change from Abbott Laboratories's previous quarterly dividend of $0.55. This represents a $2.36 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Wednesday, January 15th. Abbott Laboratories's payout ratio is currently 30.85%.

Insider Buying and Selling

In other news, EVP Daniel Gesua Sive Salvadori sold 23,771 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $16,152,064.50. This represents a 15.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Abbott Laboratories

Several hedge funds have recently made changes to their positions in ABT. Massachusetts Financial Services Co. MA increased its position in shares of Abbott Laboratories by 25.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,319,347 shares of the healthcare product maker's stock valued at $1,518,539,000 after buying an additional 2,711,586 shares during the period. State Street Corp increased its holdings in Abbott Laboratories by 3.1% during 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 acquiring an additional 2,323,807 shares during the period. International Assets Investment Management LLC lifted its stake in Abbott Laboratories by 13,194.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,679,805 shares of the healthcare product maker's stock worth $191,515,000 after purchasing an additional 1,667,170 shares in the last quarter. Sessa Capital IM L.P. boosted its holdings in Abbott Laboratories by 47.1% in the 3rd quarter. Sessa Capital IM L.P. now owns 3,749,502 shares of the healthcare product maker's stock valued at $427,481,000 after purchasing an additional 1,200,409 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Abbott Laboratories by 22,372.2% in the fourth quarter. Jennison Associates LLC now owns 1,201,364 shares of the healthcare product maker's stock worth $135,886,000 after purchasing an additional 1,196,018 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ABT shares. Barclays reiterated an "overweight" rating and issued a $158.00 price objective (up previously from $149.00) on shares of Abbott Laboratories in a research note on Monday, January 27th. Evercore ISI increased their price target on Abbott Laboratories to $136.00 and gave the company a "buy" rating in a research report on Thursday, January 2nd. Royal Bank of Canada reissued an "outperform" rating and issued a $135.00 price objective on shares of Abbott Laboratories in a research report on Tuesday, January 21st. UBS Group lifted their target price on Abbott Laboratories from $146.00 to $148.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Finally, Raymond James restated a "buy" rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of "Moderate Buy" and an average price target of $133.06.

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.