CPC Advisors LLC Grows Stock Holdings in Abbott Laboratories $ABT

CPC Advisors LLC boosted its holdings in Abbott Laboratories (NYSE:ABT) by 992.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,827 shares of the healthcare product maker’s stock after purchasing an additional 17,104 shares during the quarter. CPC Advisors LLC’s holdings in Abbott Laboratories were worth $2,522,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. grew its holdings in Abbott Laboratories by 759.1% in the second quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock valued at $26,000 after purchasing an additional 167 shares during the period. Anfield Capital Management LLC grew its stake in shares of 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 buying an additional 104 shares during the period. Delos Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories during the 2nd quarter worth $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 buying an additional 305 shares during the period. Finally, Pineridge Advisors LLC boosted its holdings in Abbott Laboratories by 34.6% in the second quarter. Pineridge Advisors LLC now owns 315 shares of the healthcare product maker’s stock valued at $43,000 after acquiring an additional 81 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the subject of a number of research analyst reports. Royal Bank Of Canada reissued an “outperform” rating and set a $147.00 target price on shares of Abbott Laboratories in a research report on Thursday, October 16th. BTIG Research reissued a “buy” rating and issued a $145.00 price objective on shares of Abbott Laboratories in a research report on Thursday, November 20th. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, November 20th. The Goldman Sachs Group upped their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Finally, Jefferies Financial Group raised their price objective on Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.68.

Abbott Laboratories Trading Down 1.0%

NYSE ABT opened at $124.63 on Tuesday. The company has a market capitalization of $216.72 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 2.09 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. The company’s fifty day moving average price is $126.15 and its two-hundred day moving average price is $129.24.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. The firm had revenue of $11.37 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Abbott Laboratories had a return on equity of 17.60% and a net margin of 31.88%.Abbott Laboratories’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 earnings per share. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Thursday, January 15th will be given a dividend of $0.63 per share. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.59. This represents a $2.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, January 15th. Abbott Laboratories’s payout ratio is currently 29.57%.

Abbott Laboratories 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.