CCLA Investment Management Increases Stock Holdings in Abbott Laboratories $ABT

CCLA Investment Management grew its position in shares of Abbott Laboratories (NYSE:ABT) by 6.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 873,912 shares of the healthcare product maker’s stock after purchasing an additional 56,674 shares during the quarter. Abbott Laboratories accounts for 95.2% of CCLA Investment Management’s portfolio, making the stock its largest position. CCLA Investment Management owned about 0.05% of Abbott Laboratories worth $118,808,336,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. IMG Wealth Management Inc. increased its position in shares of Abbott Laboratories by 759.1% during the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 167 shares during the period. Hughes Financial Services LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter worth $27,000. Abound Financial LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter worth $28,000. Elequin Capital LP acquired a new position in shares of Abbott Laboratories in the 1st quarter worth $30,000. Finally, Vision Financial Markets LLC acquired a new position in shares of Abbott Laboratories in the 1st quarter worth $33,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the topic of a number of recent research reports. Royal Bank Of Canada restated an “outperform” rating and issued a $147.00 target price on shares of Abbott Laboratories in a report on Thursday, October 16th. The Goldman Sachs Group lifted their target price on Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Morgan Stanley lifted their target price on Abbott Laboratories from $127.00 to $137.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 15th. Jefferies Financial Group lifted their target price on Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Finally, Benchmark started coverage on Abbott Laboratories in a research report on Friday, October 10th. They issued a “buy” rating and a $145.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $126.78 on Monday. The stock has a market cap of $220.65 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 2.41 and a beta of 0.69. The business has a fifty day simple moving average of $132.09 and a 200-day simple moving average of $131.64. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.30. The firm had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Abbott Laboratories Company 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.