Curbstone Financial Management Corp Sells 808 Shares of Abbott Laboratories $ABT

Curbstone Financial Management Corp cut its position in shares of Abbott Laboratories (NYSE:ABT) by 3.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 23,674 shares of the healthcare product maker’s stock after selling 808 shares during the period. Curbstone Financial Management Corp’s holdings in Abbott Laboratories were worth $3,220,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $27,000. Abound Financial LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $30,000. JCIC Asset Management Inc. bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $32,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at approximately $33,000. 75.18% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction on Friday, August 8th. The stock was 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 approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ABT shares. Sanford C. Bernstein raised their price objective on Abbott Laboratories from $145.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday. BTIG Research reiterated a “buy” rating and issued a $145.00 price target on shares of Abbott Laboratories in a report on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Abbott Laboratories in a report on Wednesday, October 8th. Benchmark began coverage on Abbott Laboratories in a report on Friday, October 10th. They issued a “buy” rating and a $145.00 price target on the stock. Finally, Evercore ISI reduced their price target on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $147.61.

Abbott Laboratories Trading Up 0.8%

ABT opened at $128.69 on Friday. The stock’s fifty day moving average is $132.38 and its two-hundred day moving average is $131.54. The company has a market capitalization of $223.98 billion, a P/E ratio of 16.13, a PEG ratio of 2.42 and a beta of 0.69. Abbott Laboratories has a 52 week low of $110.86 and a 52 week high of $141.23. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, hitting the consensus estimate of $1.30. The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.Abbott Laboratories’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the business posted $1.21 EPS. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. Analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current 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 issued 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 dividend payout ratio (DPR) 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.