2,429 Shares in Abbott Laboratories (NYSE:ABT) Acquired by Capital City Trust Co. FL

Key Points

• Capital City Trust Co. FL has acquired 2,429 shares of Abbott Laboratories, representing a stake valued at approximately $322,000 in the first quarter of the year.
• Abbott Laboratories reported a quarterly earnings per share (EPS) of $1.26, meeting analyst expectations, and has seen revenue growth of 7.4% year-over-year.
• A number of brokerages have upgraded Abbott Laboratories, with Jefferies Financial Group raising their target price from $143.00 to $145.00 and upgrading from "hold" to "buy."

Capital City Trust Co. FL purchased a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,429 shares of the healthcare product maker's stock, valued at approximately $322,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Redwood Park Advisors LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at $25,000. Hughes Financial Services LLC bought a new position in shares of Abbott Laboratories during the 1st quarter worth $27,000. WealthTrak Capital Management LLC purchased a new position in Abbott Laboratories during the 4th quarter valued at about $28,000. Abound Financial LLC purchased a new position in Abbott Laboratories during the 1st quarter valued at about $28,000. Finally, Wormser Freres Gestion purchased a new position in Abbott Laboratories during the 4th quarter valued at about $32,000. 75.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on ABT shares. BTIG Research reduced their target price on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Royal Bank Of Canada lifted their price target on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Piper Sandler reiterated an "overweight" rating and set a $145.00 price target (up previously from $133.00) on shares of Abbott Laboratories in a research report on Thursday, April 17th. Finally, Barclays lifted their price target on Abbott Laboratories from $158.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $144.47.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT traded down $1.42 during midday trading on Thursday, reaching $127.13. 2,369,716 shares of the company's stock traded hands, compared to its average volume of 6,928,002. Abbott Laboratories has a one year low of $103.55 and a one year high of $141.23. The stock has a 50 day moving average of $131.97 and a 200 day moving average of $130.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.78. The company has a market cap of $221.19 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 2.43 and a beta of 0.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, meeting analysts' consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.83% and a net margin of 32.43%. The company had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The firm's revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, July 15th. Abbott Laboratories's payout ratio is 29.57%.

Abbott Laboratories Company 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.