CSM Advisors LLC Sells 2,280 Shares of Abbott Laboratories $ABT

Key Points

• CSM Advisors LLC sold 2,280 shares of Abbott Laboratories, reducing its position by 2.3%, leaving them with 95,721 shares valued at approximately $12.7 million.
• Multiple investors, including Apexium Financial LP and Kayne Anderson Rudnick Investment Management LLC, have significantly increased their holdings in Abbott Laboratories during the first quarter of the year.
• Abbott Laboratories reported a quarterly earnings per share (EPS) of $1.26, meeting analysts' expectations, with revenue of $11.14 billion, reflecting a 7.4% increase year-over-year.

CSM Advisors LLC lessened its position in Abbott Laboratories (NYSE:ABT - Free Report) by 2.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 95,721 shares of the healthcare product maker's stock after selling 2,280 shares during the period. Abbott Laboratories comprises approximately 0.7% of CSM Advisors LLC's holdings, making the stock its 29th biggest holding. CSM Advisors LLC's holdings in Abbott Laboratories were worth $12,698,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the first quarter worth approximately $27,000. Abound Financial LLC bought a new stake in Abbott Laboratories during the 1st quarter worth approximately $28,000. Elequin Capital LP acquired a new stake in Abbott Laboratories during the 1st quarter valued at $30,000. Wormser Freres Gestion bought a new position in Abbott Laboratories in the 4th quarter valued at $32,000. Finally, JCIC Asset Management Inc. acquired a new position in Abbott Laboratories in the first quarter worth $32,000. 75.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ABT shares. BTIG Research cut their price target on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Wells Fargo & Company dropped their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Jefferies Financial Group upgraded shares of Abbott Laboratories from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. Finally, Royal Bank Of Canada increased their price objective on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

Insider Transactions at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction dated 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 owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.46% of the company's stock.

Abbott Laboratories Trading Up 0.0%

Shares of ABT stock traded up $0.01 on Thursday, reaching $131.47. The company had a trading volume of 4,674,515 shares, compared to its average volume of 5,499,934. The stock has a market cap of $228.81 billion, a PE ratio of 26.83, a PEG ratio of 2.49 and a beta of 0.70. The company has a 50-day moving average of $131.01 and a 200-day moving average of $131.33. 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 issued its quarterly earnings data 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 firm had revenue of $11.14 billion during 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%. The business's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company 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, equities analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, July 15th. This represents a $2.36 annualized dividend and a yield of 1.8%. Abbott Laboratories's payout ratio is currently 29.57%.

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.