Abbott Laboratories $ABT Shares Sold by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC decreased its stake in Abbott Laboratories (NYSE:ABT) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,551 shares of the healthcare product maker’s stock after selling 527 shares during the period. Castle Rock Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,439,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Morton Capital Management LLC CA boosted its holdings in shares of Abbott Laboratories by 42.1% in the 2nd quarter. Morton Capital Management LLC CA now owns 3,113 shares of the healthcare product maker’s stock valued at $423,000 after buying an additional 922 shares in the last quarter. Valmark Advisers Inc. boosted its holdings in shares of Abbott Laboratories by 4.8% in the 2nd quarter. Valmark Advisers Inc. now owns 17,911 shares of the healthcare product maker’s stock valued at $2,436,000 after buying an additional 818 shares in the last quarter. Northern Financial Advisors Inc boosted its holdings in shares of Abbott Laboratories by 10.8% in the 2nd quarter. Northern Financial Advisors Inc now owns 1,914 shares of the healthcare product maker’s stock valued at $260,000 after buying an additional 186 shares in the last quarter. WoodTrust Financial Corp raised its position in Abbott Laboratories by 136.7% in the 2nd quarter. WoodTrust Financial Corp now owns 14,137 shares of the healthcare product maker’s stock valued at $1,923,000 after purchasing an additional 8,165 shares during the last quarter. Finally, Winthrop Advisory Group LLC raised its position in Abbott Laboratories by 2.9% in the 2nd quarter. Winthrop Advisory Group LLC now owns 2,997 shares of the healthcare product maker’s stock valued at $408,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ABT shares. Mizuho upped their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a research report on Monday, June 16th. Raymond James Financial reduced their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, July 18th. Evercore ISI upped their price target on shares of Abbott Laboratories from $140.00 to $144.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, The Goldman Sachs Group upped their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $146.24.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at $6,862,453.65. This represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Up 1.1%

Shares of Abbott Laboratories stock opened at $134.45 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The company has a market cap of $234.00 billion, a P/E ratio of 16.85, a PEG ratio of 2.52 and a beta of 0.69. The firm has a fifty day moving average of $132.30 and a two-hundred day moving average of $131.48.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $11.01 billion. During the same period in the prior year, the company posted $1.14 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.8%. Abbott Laboratories’s dividend payout ratio is 29.57%.

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.