Rep. Thomas H. Kean, Jr. Purchases Shares of Abbott Laboratories (NYSE:ABT)

Representative Thomas H. Kean, Jr. (R-New Jersey) recently bought shares of Abbott Laboratories (NYSE:ABT). In a filing disclosed on January 22nd, the Representative disclosed that they had bought between $1,001 and $15,000 in Abbott Laboratories stock on December 16th. The trade occurred in the Representative’s “KEAN FAMILY PARTNERSHIP” account.

Representative Thomas H. Kean, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Canadian Pacific Kansas City (NYSE:CP) on 12/27/2024.
• Purchased $1,001 – $15,000 in shares of Pernod Ricard (OTC:PRNDY) on 12/27/2024.
• Sold $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOG) on 12/19/2024.
• Sold $1,001 – $15,000 in shares of Franklin Resources (NYSE:BEN) on 12/16/2024.
• Purchased $1,001 – $15,000 in shares of Prologis (NYSE:PLD) on 12/16/2024.
• Purchased $1,001 – $15,000 in shares of Analog Devices (NASDAQ:ADI) on 12/13/2024.

Abbott Laboratories Stock Up 1.5 %

ABT opened at $125.12 on Friday. The company has a market cap of $217.01 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 0.73. Abbott Laboratories has a 12 month low of $99.71 and a 12 month high of $125.67. The business’s 50-day moving average price is $115.07 and its 200-day moving average price is $113.15. The company has a current ratio of 1.60, a quick ratio of 1.14 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 22nd. The healthcare product maker reported $1.34 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 firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11,029,400 billion. During the same period in the prior year, the firm posted $1.19 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts expect that Abbott Laboratories will post 5.15 EPS for the current 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 issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.89%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.55. Abbott Laboratories’s dividend payout ratio (DPR) is currently 30.85%.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of research reports. Piper Sandler increased their price objective on Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Mizuho lifted their price target on shares of Abbott Laboratories from $115.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays upped their price objective on shares of Abbott Laboratories from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Stifel Nicolaus boosted their price target on Abbott Laboratories from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company raised their price objective on Abbott Laboratories from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Insight Folios Inc increased its stake in Abbott Laboratories by 3.3% during the third quarter. Insight Folios Inc now owns 2,691 shares of the healthcare product maker’s stock worth $307,000 after purchasing an additional 87 shares during the period. Sfmg LLC increased its stake in Abbott Laboratories by 1.9% during the 3rd quarter. Sfmg LLC now owns 4,622 shares of the healthcare product maker’s stock worth $527,000 after buying an additional 88 shares during the period. River Street Advisors LLC lifted its holdings in Abbott Laboratories by 1.2% during the 4th quarter. River Street Advisors LLC now owns 7,370 shares of the healthcare product maker’s stock worth $834,000 after buying an additional 88 shares in the last quarter. Boltwood Capital Management boosted its position in Abbott Laboratories by 0.4% in the 3rd quarter. Boltwood Capital Management now owns 21,821 shares of the healthcare product maker’s stock valued at $2,488,000 after buying an additional 89 shares during the period. Finally, Wedge Capital Management L L P NC increased its position in shares of Abbott Laboratories by 2.9% during the third quarter. Wedge Capital Management L L P NC now owns 3,153 shares of the healthcare product maker’s stock worth $359,000 after acquiring an additional 89 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.

About Representative Kean

Thomas Kean Jr. (Republican Party) is a member of the U.S. House, representing New Jersey’s 7th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Kean (Republican Party) is running for re-election to the U.S. House to represent New Jersey’s 7th Congressional District. He declared candidacy for the 2024 election. Kean has served as state Senate minority leader. He was a member of the New Jersey General Assembly from 2001 to 2003. Thomas Kean Jr. lives in Westfield, New Jersey. Kean earned a master’s degree from the Tufts University Fletcher School of Law and Diplomacy. His career experience includes working with the Environmental Protection Agency during the George H.W. Bush administration and as an advisor to former U.S. Representative Bob Franks, a firefighter, and an emergency medical technician. Kean has served as the vice president of a fire department.

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.