Campbell Newman Asset Management Inc. Has $31.86 Million Position in Abbott Laboratories $ABT

Key Points

• Campbell Newman Asset Management Inc. reduced its stake in Abbott Laboratories by 3.1%, owning 234,249 shares worth approximately $31.86 million, making it the 16th largest holding in their portfolio.
• Abbott Laboratories reported quarterly earnings of $1.26 EPS and revenue of $11.14 billion, surpassing analysts' estimates, while the company anticipates FY 2025 EPS between 5.100-5.200.
• Wall Street analysts have mixed ratings for Abbott, with an average consensus rating of "Moderate Buy" and a price target around $145.22, as various firms adjust their targets for the stock.

Campbell Newman Asset Management Inc. decreased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234,249 shares of the healthcare product maker's stock after selling 7,579 shares during the period. Abbott Laboratories comprises 2.5% of Campbell Newman Asset Management Inc.'s holdings, making the stock its 16th largest holding. Campbell Newman Asset Management Inc.'s holdings in Abbott Laboratories were worth $31,860,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ABT. Hughes Financial Services LLC bought a new position in shares of Abbott Laboratories in the 1st quarter valued at $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories in the first quarter valued at about $28,000. Elequin Capital LP bought a new position in Abbott Laboratories in the first quarter valued at about $30,000. JCIC Asset Management Inc. acquired a new position in Abbott Laboratories during the first quarter worth about $32,000. Finally, Vision Financial Markets LLC bought a new position in shares of Abbott Laboratories in the first quarter worth about $33,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ABT shares. BTIG Research decreased their price target on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, July 18th. Leerink Partners assumed coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They set a "market perform" rating and a $143.00 target price on the stock. Evercore ISI increased their price target on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Wells Fargo & Company reduced their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. Finally, Royal Bank Of Canada upped their target price on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $145.22.

Abbott Laboratories Trading Down 0.4%

NYSE ABT opened at $133.01 on Tuesday. The firm has a market capitalization of $231.49 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.53 and a beta of 0.69. The business's 50-day moving average price is $131.31 and its two-hundred day moving average price is $131.20. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts' consensus estimates of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm's quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 earnings per share. 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 expect that Abbott Laboratories will post 5.14 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

Insiders Place Their Bets

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by corporate insiders.

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.

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