CCLA Investment Management Acquires 66,275 Shares of Abbott Laboratories $ABT

CCLA Investment Management boosted its stake in Abbott Laboratories (NYSE:ABT) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 940,187 shares of the healthcare product maker’s stock after acquiring an additional 66,275 shares during the period. Abbott Laboratories accounts for approximately 2.0% of CCLA Investment Management’s holdings, making the stock its 28th biggest holding. CCLA Investment Management owned 0.05% of Abbott Laboratories worth $125,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IMG Wealth Management Inc. increased its position in shares of Abbott Laboratories by 759.1% during the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 167 shares during the period. Anfield Capital Management LLC boosted its position in Abbott Laboratories by 81.3% during the 2nd quarter. Anfield Capital Management LLC now owns 232 shares of the healthcare product maker’s stock valued at $32,000 after acquiring an additional 104 shares in the last quarter. Delos Wealth Advisors LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $32,000. Curio Wealth LLC raised its position in shares of Abbott Laboratories by 15,250.0% in the 2nd quarter. Curio Wealth LLC now owns 307 shares of the healthcare product maker’s stock worth $42,000 after acquiring an additional 305 shares in the last quarter. Finally, Pineridge Advisors LLC lifted its stake in shares of Abbott Laboratories by 34.6% in the 2nd quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after purchasing an additional 81 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 0.3%

NYSE:ABT opened at $125.45 on Monday. The stock has a market cap of $218.13 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 2.29 and a beta of 0.72. The company has a quick ratio of 1.24, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average price is $126.77 and its 200-day moving average price is $130.23. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.60%. The company had revenue of $11.37 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same period in the previous year, the business earned $1.21 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities research analysts forecast that Abbott Laboratories will post 5.14 earnings per share 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 given a $0.63 dividend. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. Abbott Laboratories’s payout ratio is presently 29.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Abbott Laboratories from $142.00 to $146.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, November 20th. Royal Bank Of Canada reissued an “outperform” rating and set a $147.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 16th. Daiwa Capital Markets raised their target price on shares of Abbott Laboratories from $134.00 to $136.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Finally, Barclays lifted their target price on shares of Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.

In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.