Canandaigua National Bank & Trust Co. Has $7.69 Million Stock Position in Abbott Laboratories $ABT

Key Points

• Canandaigua National Bank & Trust Co. reduced its holdings in Abbott Laboratories by 3.2% in Q2, ending the quarter with a position valued at $7.69 million.
• Several institutional investors increased their stakes in Abbott Laboratories, with notable increases including Brighton Jones LLC's 10.1% growth and State of Wyoming's remarkable 661.6% hike.
• Wall Street analysts generally project positive sentiment for Abbott Laboratories, with a consensus rating of "Moderate Buy" and a target price of approximately $144.47.

Canandaigua National Bank & Trust Co. decreased its position in Abbott Laboratories (NYSE:ABT - Free Report) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,571 shares of the healthcare product maker's stock after selling 1,887 shares during the period. Abbott Laboratories makes up 0.7% of Canandaigua National Bank & Trust Co.'s portfolio, making the stock its 29th largest position. Canandaigua National Bank & Trust Co.'s holdings in Abbott Laboratories were worth $7,694,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ABT. Brighton Jones LLC grew its holdings in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after buying an additional 4,755 shares during the period. Bank Pictet & Cie Europe AG lifted its position in Abbott Laboratories by 1.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after acquiring an additional 2,774 shares in the last quarter. Toronto Dominion Bank lifted its position in Abbott Laboratories by 2.9% in the 4th quarter. Toronto Dominion Bank now owns 727,351 shares of the healthcare product maker's stock valued at $82,269,000 after acquiring an additional 20,457 shares in the last quarter. Strive Asset Management LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at $711,000. Finally, State of Wyoming lifted its position in Abbott Laboratories by 661.6% in the 4th quarter. State of Wyoming now owns 6,832 shares of the healthcare product maker's stock valued at $773,000 after acquiring an additional 5,935 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction dated 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 approximately $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

ABT has been the topic of several research reports. Jefferies Financial Group raised shares of Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their price objective for the company from $143.00 to $145.00 in a research report on Friday, July 18th. Leerink Partners initiated coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price objective on the stock. Mizuho boosted their price objective 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. Evercore ISI boosted their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Raymond James Financial cut their price objective on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research report on Friday, July 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $144.47.

Abbott Laboratories Trading Up 1.0%

Shares of NYSE:ABT opened at $133.92 on Monday. The company's 50-day moving average price is $130.41 and its two-hundred day moving average price is $131.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The stock has a market capitalization of $233.08 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69.

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

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.

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