Citizens & Northern Corp Raises Holdings in Abbott Laboratories $ABT

Citizens & Northern Corp increased its position in Abbott Laboratories (NYSE:ABT) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 21,796 shares of the healthcare product maker’s stock after acquiring an additional 216 shares during the quarter. Abbott Laboratories comprises 0.8% of Citizens & Northern Corp’s investment portfolio, making the stock its 24th largest holding. Citizens & Northern Corp’s holdings in Abbott Laboratories were worth $2,964,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. IMG Wealth Management Inc. boosted its holdings in Abbott Laboratories by 759.1% in the 2nd quarter. IMG Wealth Management Inc. now owns 189 shares of the healthcare product maker’s stock worth $26,000 after buying an additional 167 shares during the period. Hughes Financial Services LLC bought a new position in shares of Abbott Laboratories in the first quarter worth $27,000. Abound Financial LLC purchased a new position in shares of Abbott Laboratories in the first quarter valued at $28,000. Elequin Capital LP bought a new stake in shares of Abbott Laboratories during the 1st quarter valued at $30,000. Finally, JCIC Asset Management Inc. purchased a new stake in Abbott Laboratories during the 1st quarter worth about $32,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ABT shares. The Goldman Sachs Group increased their price target on shares of Abbott Laboratories from $153.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Morgan Stanley raised their price target on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Raymond James Financial upped their price target on shares of Abbott Laboratories from $141.00 to $146.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Benchmark assumed coverage on Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 target price for the company. Finally, Barclays raised their price target on Abbott Laboratories from $159.00 to $162.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Insiders Place Their Bets

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company’s stock in a transaction dated 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 in the company, valued at $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories Trading Down 1.4%

Shares of ABT stock opened at $127.68 on Wednesday. The business has a 50-day moving average price of $132.28 and a two-hundred day moving average price of $131.54. Abbott Laboratories has a 12-month low of $110.86 and a 12-month 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. The firm has a market cap of $222.21 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 2.46 and a beta of 0.69.

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

Abbott Laboratories Announces Dividend

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 issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 annualized dividend and a dividend yield of 1.8%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 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.