Capital Investment Services of America Inc. Sells 608 Shares of Abbott Laboratories $ABT

Capital Investment Services of America Inc. decreased its holdings in Abbott Laboratories (NYSE:ABT) by 18.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,624 shares of the healthcare product maker’s stock after selling 608 shares during the period. Capital Investment Services of America Inc.’s holdings in Abbott Laboratories were worth $357,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Granite Harbor Advisors Inc. lifted its stake in shares of Abbott Laboratories by 14.7% in the 2nd quarter. Granite Harbor Advisors Inc. now owns 1,814 shares of the healthcare product maker’s stock valued at $247,000 after purchasing an additional 233 shares during the last quarter. Forum Financial Management LP boosted its position in shares of Abbott Laboratories by 1.8% during the second quarter. Forum Financial Management LP now owns 59,595 shares of the healthcare product maker’s stock valued at $8,106,000 after buying an additional 1,070 shares during the period. Ethic Inc. raised its holdings in shares of Abbott Laboratories by 6.8% in the second quarter. Ethic Inc. now owns 233,182 shares of the healthcare product maker’s stock worth $31,335,000 after buying an additional 14,759 shares during the period. Meadow Creek Wealth Advisors LLC lifted its stake in shares of Abbott Laboratories by 9.6% during the 2nd quarter. Meadow Creek Wealth Advisors LLC now owns 4,563 shares of the healthcare product maker’s stock worth $621,000 after acquiring an additional 398 shares during the last quarter. Finally, Caliber Wealth Management LLC KS boosted its holdings in Abbott Laboratories by 55.8% during the 2nd quarter. Caliber Wealth Management LLC KS now owns 2,816 shares of the healthcare product maker’s stock valued at $383,000 after acquiring an additional 1,008 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on ABT. Wells Fargo & Company increased their target price on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Benchmark started coverage on shares of Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 target price for the company. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Barclays boosted their price objective on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Finally, The Goldman Sachs Group raised their target price on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the transaction, the chief financial officer directly 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Stock Up 0.2%

ABT stock opened at $127.83 on Thursday. 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 52 week low of $110.86 and a 52 week high of $141.23. The stock has a market capitalization of $222.48 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 2.42 and a beta of 0.69. The firm has a 50 day moving average of $132.25 and a 200 day moving average of $131.52.

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

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Wednesday, October 15th will be issued 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 dividend yield of 1.8%. Abbott Laboratories’s payout ratio 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.