Capital Investment Services of America Inc. Trims Stock Position in Abbott Laboratories $ABT

Capital Investment Services of America Inc. decreased its stake in Abbott Laboratories (NYSE:ABT) by 18.8% during the second quarter, Holdings Channel reports. The institutional investor owned 2,624 shares of the healthcare product maker’s stock after selling 608 shares during the quarter. Capital Investment Services of America Inc.’s holdings in Abbott Laboratories were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Mayflower Financial Advisors LLC increased its holdings in shares of Abbott Laboratories by 0.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker’s stock valued at $2,298,000 after purchasing an additional 78 shares in the last quarter. FF Advisors LLC raised its position in shares of Abbott Laboratories by 4.3% in the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker’s stock worth $259,000 after acquiring an additional 79 shares during the period. Charles Schwab Trust Co boosted its stake in shares of Abbott Laboratories by 0.6% during the 2nd quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker’s stock worth $1,907,000 after acquiring an additional 79 shares in the last quarter. Opes Wealth Management LLC increased its stake in shares of Abbott Laboratories by 2.9% in the 1st quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker’s stock valued at $379,000 after purchasing an additional 80 shares in the last quarter. Finally, Lcnb Corp raised its holdings in Abbott Laboratories by 0.5% in the 1st quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker’s stock worth $2,111,000 after purchasing an additional 80 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Abbott Laboratories in a research report on Wednesday, October 8th. Jefferies Financial Group boosted their price target on shares of Abbott Laboratories from $145.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Raymond James Financial increased 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, October 16th. BTIG Research restated a “buy” rating and set a $145.00 price target on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Finally, Sanford C. Bernstein lifted their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Abbott Laboratories Stock Up 0.2%

ABT stock opened at $127.83 on Thursday. The company has a market cap of $222.48 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 2.42 and a beta of 0.69. The firm has a 50-day moving average of $132.25 and a two-hundred day moving average of $131.52. Abbott Laboratories has a 12 month low of $110.86 and a 12 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 quarterly earnings results 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. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The business had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same period in the prior year, the business earned $1.21 earnings per share. The business’s revenue 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. As a group, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently declared 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 of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories’s payout ratio is presently 29.57%.

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total value 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 represents a 9.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.

About Abbott Laboratories

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.