CENTRAL TRUST Co Has $17.82 Million Stock Position in Abbott Laboratories $ABT

by · The Cerbat Gem

CENTRAL TRUST Co cut its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 10.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,045 shares of the healthcare product maker’s stock after selling 15,071 shares during the quarter. CENTRAL TRUST Co’s holdings in Abbott Laboratories were worth $17,823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ABT. Montag A & Associates Inc. raised its stake in Abbott Laboratories by 3.8% during the 2nd quarter. Montag A & Associates Inc. now owns 108,834 shares of the healthcare product maker’s stock valued at $14,803,000 after purchasing an additional 3,993 shares during the last quarter. 49 Wealth Management LLC increased its holdings in shares of Abbott Laboratories by 3.6% during the 2nd quarter. 49 Wealth Management LLC now owns 3,818 shares of the healthcare product maker’s stock worth $519,000 after purchasing an additional 131 shares during the period. Laffer Tengler Investments Inc. raised its position in shares of Abbott Laboratories by 57.2% during the second quarter. Laffer Tengler Investments Inc. now owns 3,492 shares of the healthcare product maker’s stock valued at $475,000 after buying an additional 1,270 shares during the last quarter. Vise Technologies Inc. bought a new stake in shares of Abbott Laboratories in the second quarter valued at about $7,725,000. Finally, Cahill Financial Advisors Inc. acquired a new stake in Abbott Laboratories during the second quarter worth about $202,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $147.00 price target on shares of Abbott Laboratories in a report on Thursday, October 16th. Evercore ISI lowered their price objective on Abbott Laboratories from $144.00 to $142.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. Raymond James Financial upped their target price on Abbott Laboratories from $141.00 to $146.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. William Blair upgraded shares of Abbott Laboratories to a “strong-buy” rating in a research note on Thursday, July 17th. Finally, Wells Fargo & Company increased their price objective on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Read Our Latest Analysis on Abbott Laboratories

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $125.88 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The business’s fifty day moving average price is $130.65 and its two-hundred day moving average price is $131.39. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The stock has a market capitalization of $218.89 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68.

Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 EPS for the quarter, meeting the consensus estimate of $1.30. Abbott Laboratories had a net margin of 31.88% and a return on equity of 17.78%. The company had revenue of $11.37 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the previous year, the company earned $1.21 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. As a group, analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal 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 paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 15th. Abbott Laboratories’s dividend payout ratio is currently 29.57%.

About Abbott Laboratories

(Free Report)

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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