CHICAGO TRUST Co NA Raises Stock Position in Abbott Laboratories $ABT

Key Points

• CHICAGO TRUST Co NA has increased its stake in Abbott Laboratories by 9.4% during Q2, holding 109,509 shares worth approximately $14.89 million.
• Abbott Laboratories recently reported quarterly earnings of $1.26 per share, meeting analysts' expectations, with revenue of $11.14 billion, reflecting a 7.4% year-over-year increase.
• Abbott's quarterly dividend of $0.59 will be paid on November 17th, translating to an annualized dividend yield of 1.7%.

CHICAGO TRUST Co NA boosted its position in Abbott Laboratories (NYSE:ABT - Free Report) by 9.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 109,509 shares of the healthcare product maker's stock after purchasing an additional 9,438 shares during the quarter. Abbott Laboratories comprises 2.1% of CHICAGO TRUST Co NA's holdings, making the stock its 7th biggest position. CHICAGO TRUST Co NA's holdings in Abbott Laboratories were worth $14,894,000 at the end of the most recent quarter.

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

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of the 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 completion of 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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. 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 raised their target price on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Mizuho lifted their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada lifted their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $145.22.

Abbott Laboratories Price Performance

NYSE ABT opened at $136.82 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $238.13 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 2.58 and a beta of 0.69. The company has a 50 day moving average price of $130.56 and a two-hundred day moving average price of $131.11. 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 issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $11.01 billion. During the same period in the previous year, the company earned $1.14 earnings per share. Abbott Laboratories'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. As a group, equities analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, October 15th will be paid a $0.59 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.7%. Abbott Laboratories's dividend payout ratio is currently 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.

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