Family Capital Trust Co Cuts Stake in Abbott Laboratories $ABT

Family Capital Trust Co reduced its stake in Abbott Laboratories (NYSE:ABT) by 1.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 57,493 shares of the healthcare product maker’s stock after selling 836 shares during the quarter. Abbott Laboratories accounts for approximately 2.7% of Family Capital Trust Co’s portfolio, making the stock its 11th largest holding. Family Capital Trust Co’s holdings in Abbott Laboratories were worth $7,820,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Avanza Fonder AB lifted its holdings in Abbott Laboratories by 0.4% during the second quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker’s stock valued at $22,904,000 after purchasing an additional 655 shares during the last quarter. Madrona Financial Services LLC lifted its holdings in Abbott Laboratories by 9.7% during the second quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock valued at $235,000 after purchasing an additional 152 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Abbott Laboratories by 12.4% during 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 purchasing an additional 73,780 shares during the last quarter. SageView Advisory Group LLC lifted its holdings in Abbott Laboratories by 18.6% during the first quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker’s stock valued at $2,427,000 after purchasing an additional 2,873 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in Abbott Laboratories by 49.8% during the first quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker’s stock valued at $199,939,000 after purchasing an additional 501,200 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ABT shares. Raymond James Financial upped their price objective on shares of Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday. William Blair upgraded Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, July 17th. Jefferies Financial Group upped their price target on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday. BTIG Research reiterated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $147.00 price target on shares of Abbott Laboratories in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $147.61.

Abbott Laboratories Stock Up 0.8%

ABT stock opened at $128.69 on Monday. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $132.38 and its 200 day moving average is $131.54. The stock has a market cap of $223.98 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data 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 analysts’ expectations of $11.40 billion. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. Abbott Laboratories’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Sell-side analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business 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 $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is 29.57%.

Insider Buying and Selling at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company’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 value of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This 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. Company insiders own 0.46% of the company’s stock.

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.