Caitong International Asset Management Co. Ltd Raises Stock Holdings in Abbott Laboratories $ABT

Caitong International Asset Management Co. Ltd raised its position in shares of Abbott Laboratories (NYSE:ABT) by 23,550.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,892 shares of the healthcare product maker’s stock after buying an additional 1,884 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Abbott Laboratories were worth $257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC grew its holdings in Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after purchasing an additional 4,755 shares during the period. GAMMA Investing LLC boosted its position in shares of Abbott Laboratories by 17.0% in the 1st quarter. GAMMA Investing LLC now owns 38,467 shares of the healthcare product maker’s stock worth $5,103,000 after purchasing an additional 5,590 shares in the last quarter. Spire Wealth Management increased its position in Abbott Laboratories by 2.7% during the 1st quarter. Spire Wealth Management now owns 23,620 shares of the healthcare product maker’s stock valued at $3,133,000 after buying an additional 631 shares in the last quarter. Independent Solutions Wealth Management LLC purchased a new position in Abbott Laboratories during the first quarter valued at $294,000. Finally, Golden State Wealth Management LLC boosted its holdings in Abbott Laboratories by 151.1% in the first quarter. Golden State Wealth Management LLC now owns 5,640 shares of the healthcare product maker’s stock worth $748,000 after acquiring an additional 3,394 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

ABT has been the subject of several analyst reports. Benchmark started coverage on Abbott Laboratories in a report on Friday, October 10th. They set a “buy” rating and a $145.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Raymond James Financial lifted their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Morgan Stanley upped their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 15th. Finally, Jefferies Financial Group raised their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Price Performance

Shares of ABT opened at $126.44 on Friday. The firm has a market capitalization of $220.06 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 2.43 and a beta of 0.69. The firm’s fifty day simple moving average is $132.19 and its 200-day simple moving average is $131.53. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. The firm had revenue of $11.37 billion for the quarter, compared to analyst estimates of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.Abbott Laboratories’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Equities analysts forecast that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 annualized dividend and a yield of 1.9%. Abbott Laboratories’s payout ratio is presently 29.57%.

Abbott Laboratories Profile

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.