Capital Investment Counsel Inc Grows Position in Abbott Laboratories $ABT

Capital Investment Counsel Inc raised its holdings in shares of Abbott Laboratories (NYSE:ABT) by 46.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,901 shares of the healthcare product maker’s stock after purchasing an additional 920 shares during the period. Capital Investment Counsel Inc’s holdings in Abbott Laboratories were worth $395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Avanza Fonder AB grew its position in shares of Abbott Laboratories by 0.4% in the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock worth $22,904,000 after buying an additional 655 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Abbott Laboratories by 12.4% in the second quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker’s stock valued at $91,109,000 after acquiring an additional 73,780 shares in the last quarter. Madrona Financial Services LLC grew its holdings in Abbott Laboratories by 9.7% in the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock worth $235,000 after purchasing an additional 152 shares during the last quarter. State of Michigan Retirement System increased its position in shares of Abbott Laboratories by 0.5% during the second quarter. State of Michigan Retirement System now owns 473,057 shares of the healthcare product maker’s stock worth $64,340,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Dillon & Associates Inc. lifted its holdings in shares of Abbott Laboratories by 1.9% during the 2nd quarter. Dillon & Associates Inc. now owns 218,655 shares of the healthcare product maker’s stock valued at $29,737,000 after purchasing an additional 4,095 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on ABT. Royal Bank Of Canada restated an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a research note on Thursday, October 16th. Daiwa Capital Markets boosted their price target on Abbott Laboratories from $134.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Jefferies Financial Group increased their price objective 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. Raymond James Financial boosted their target price on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Finally, Benchmark started coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $147.00.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $128.83 on Thursday. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The business’s 50 day moving average price is $130.50 and its 200 day moving average price is $131.36. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The firm has a market cap of $224.02 billion, a P/E ratio of 16.14, a P/E/G ratio of 2.36 and a beta of 0.68.

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

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.59 per share. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories’s dividend payout ratio (DPR) is 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.