Capital Asset Advisory Services LLC Grows Stock Holdings in Abbott Laboratories $ABT

Capital Asset Advisory Services LLC grew its holdings in Abbott Laboratories (NYSE:ABT) by 39.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,126 shares of the healthcare product maker’s stock after acquiring an additional 12,276 shares during the period. Capital Asset Advisory Services LLC’s holdings in Abbott Laboratories were worth $5,776,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Abbott Laboratories during the second quarter worth about $3,026,180,000. Laurel Wealth Advisors LLC raised its holdings in shares of Abbott Laboratories by 13,347.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 6,056,934 shares of the healthcare product maker’s stock valued at $823,804,000 after buying an additional 6,011,891 shares during the period. Wellington Management Group LLP lifted its position in Abbott Laboratories by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after acquiring an additional 3,371,113 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Abbott Laboratories by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 172,800,851 shares of the healthcare product maker’s stock worth $23,502,644,000 after acquiring an additional 2,977,715 shares during the period. Finally, First Trust Advisors LP grew its position in Abbott Laboratories by 180.7% in the second quarter. First Trust Advisors LP now owns 3,063,443 shares of the healthcare product maker’s stock valued at $416,659,000 after acquiring an additional 1,972,097 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Up 2.5%

NYSE:ABT opened at $128.58 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.24 and a current ratio of 1.70. The company has a market capitalization of $223.58 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 2.29 and a beta of 0.71. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The stock has a 50-day simple moving average of $127.35 and a 200 day simple moving average of $130.44.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting analysts’ consensus estimates 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 17.60% and a net margin of 31.88%.Abbott Laboratories’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 15th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, January 15th. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a yield of 2.0%. Abbott Laboratories’s payout ratio is presently 29.57%.

Analyst Ratings Changes

Several research analysts have recently weighed in on ABT shares. Wells Fargo & Company upped their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Barclays upped their price objective on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Evercore ISI dropped their target price on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. Daiwa Capital Markets increased their price target on Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, BTIG Research restated a “buy” rating and set a $145.00 price objective on shares of Abbott Laboratories in a report on Thursday, November 20th. Two equities research 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

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.