Abbott Laboratories $ABT Shares Sold by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 4.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,551 shares of the healthcare product maker’s stock after selling 527 shares during the period. Castle Rock Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,439,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Kelly Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the 1st quarter worth about $216,000. Edge Financial Advisors LLC boosted its stake in shares of Abbott Laboratories by 3.3% during the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker’s stock worth $336,000 after purchasing an additional 81 shares during the last quarter. Avanza Fonder AB boosted 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 purchasing an additional 655 shares during the last quarter. Madrona Financial Services LLC boosted its stake in shares of Abbott Laboratories by 9.7% during the 2nd quarter. Madrona Financial Services LLC now owns 1,726 shares of the healthcare product maker’s stock worth $235,000 after purchasing an additional 152 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted 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 purchasing an additional 73,780 shares during the last quarter. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABT has been the topic of several recent analyst reports. Wells Fargo & Company cut their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Mizuho increased their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday. Leerink Partnrs upgraded shares of Abbott Laboratories to a “hold” rating in a report on Monday, June 16th. Finally, William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $146.24.

Insider Buying and Selling at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the completion of the sale, the chief financial officer directly owned 51,003 shares of the company’s stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

Abbott Laboratories Trading Up 1.1%

NYSE:ABT opened at $134.45 on Thursday. The business’s 50-day moving average is $132.30 and its two-hundred day moving average is $131.48. The firm has a market capitalization of $234.00 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a 12 month low of $110.86 and a 12 month high of $141.23. 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 (NYSE:ABT) last posted 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 business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the firm 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. Research analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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

About Abbott Laboratories

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.