Cidel Asset Management Inc. Increases Stock Position in Abbott Laboratories $ABT

Key Points

• Cidel Asset Management Inc. increased its stake in Abbott Laboratories by 1.1%, bringing its total holdings to 329,181 shares worth approximately $44.77 million.
• Several large investors have also adjusted their positions in Abbott Laboratories, contributing to institutional investors and hedge funds owning 75.18% of the company's stock.
• Abbott Laboratories reported earnings of $1.30 per share for the last quarter and set its FY 2025 guidance at 5.120-5.180 EPS, with a net revenue of $11.37 billion.

Cidel Asset Management Inc. lifted its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 329,181 shares of the healthcare product maker's stock after purchasing an additional 3,661 shares during the quarter. Abbott Laboratories accounts for 2.7% of Cidel Asset Management Inc.'s holdings, making the stock its 5th largest position. Cidel Asset Management Inc.'s holdings in Abbott Laboratories were worth $44,772,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Mayflower Financial Advisors LLC boosted its position in shares of Abbott Laboratories by 0.5% during the 1st quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock worth $2,298,000 after acquiring an additional 78 shares in the last quarter. FF Advisors LLC boosted its position in Abbott Laboratories by 4.3% in the second quarter. FF Advisors LLC now owns 1,904 shares of the healthcare product maker's stock valued at $259,000 after buying an additional 79 shares in the last quarter. Charles Schwab Trust Co boosted its position in Abbott Laboratories by 0.6% in the second quarter. Charles Schwab Trust Co now owns 14,018 shares of the healthcare product maker's stock valued at $1,907,000 after buying an additional 79 shares in the last quarter. Opes Wealth Management LLC boosted its position in Abbott Laboratories by 2.9% in the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock valued at $379,000 after buying an additional 80 shares in the last quarter. Finally, Lcnb Corp boosted its position in Abbott Laboratories by 0.5% in the first quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker's stock valued at $2,111,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business'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 directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.

Abbott Laboratories Trading Up 0.8%

Shares of ABT stock opened at $128.69 on Friday. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. The company has a 50-day simple moving average of $132.38 and a two-hundred day simple moving average of $131.54. The company has a market capitalization of $223.98 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.44 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The business had revenue of $11.37 billion during the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the prior year, the firm posted $1.21 EPS. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Research analysts anticipate that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an "overweight" rating in a research report on Thursday. Barclays lifted their price target on shares of Abbott Laboratories from $159.00 to $162.00 and gave the stock an "overweight" rating in a report on Friday. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Sanford C. Bernstein lifted their target price on shares of Abbott Laboratories from $145.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Benchmark started coverage on shares of Abbott Laboratories in a research note on Friday, October 10th. They set a "buy" rating and a $145.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $147.61.

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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