Community Financial Services Group LLC Grows Position in Abbott Laboratories $ABT

Key Points

• Community Financial Services Group LLC increased its stake in Abbott Laboratories by 874.7% during the 2nd quarter, owning 45,110 shares worth $6.135 million.
• Abbott Laboratories' latest quarterly earnings showed an EPS of $1.26, meeting analyst expectations and a revenue increase of 7.4% year-over-year.
• The company announced a quarterly dividend of $0.59 per share, with an annualized yield of 1.8% set to be paid on November 17th.

Community Financial Services Group LLC grew its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 874.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,110 shares of the healthcare product maker's stock after purchasing an additional 40,482 shares during the period. Abbott Laboratories makes up about 1.2% of Community Financial Services Group LLC's portfolio, making the stock its 28th biggest position. Community Financial Services Group LLC's holdings in Abbott Laboratories were worth $6,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Kelly Financial Services LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $216,000. Edge Financial Advisors LLC lifted its stake in shares of Abbott Laboratories by 3.3% in the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after purchasing an additional 81 shares during the last quarter. Avanza Fonder AB lifted its stake in shares of Abbott Laboratories by 0.4% during the 2nd quarter. Avanza Fonder AB now owns 168,401 shares of the healthcare product maker's stock worth $22,904,000 after acquiring an additional 655 shares during the last quarter. SageView Advisory Group LLC lifted its stake in shares of Abbott Laboratories by 18.6% during the 1st quarter. SageView Advisory Group LLC now owns 18,294 shares of the healthcare product maker's stock worth $2,427,000 after acquiring an additional 2,873 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Abbott Laboratories by 12.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 669,868 shares of the healthcare product maker's stock worth $91,109,000 after acquiring an additional 73,780 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

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 stock was sold at an average price of $134.55, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Trading Down 0.3%

Shares of NYSE:ABT opened at $133.53 on Thursday. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The business's fifty day simple moving average is $131.63 and its 200-day simple moving average is $131.24. The company has a market capitalization of $232.39 billion, a PE ratio of 16.73, a P/E/G ratio of 2.54 and a beta of 0.69. 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 (NYSE:ABT - Get Free Report) last announced its quarterly 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. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period last year, the business posted $1.14 EPS. The business's revenue was up 7.4% compared to the same quarter last year. 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 research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ABT shares. Raymond James Financial decreased their price target on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a research note on Friday, July 18th. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. The Goldman Sachs Group raised their price target on Abbott Laboratories from $153.00 to $157.00 and gave the stock a "buy" rating in a research note on Wednesday. Jefferies Financial Group raised Abbott Laboratories from a "hold" rating to a "buy" rating and raised their price target for the stock from $143.00 to $145.00 in a research note on Friday, July 18th. Finally, William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $145.39.

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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