Vest Financial LLC grew its holdings in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 805,637 shares of the healthcare product maker’s stock after purchasing an additional 8,114 shares during the quarter. Abbott Laboratories makes up 0.8% of Vest Financial LLC’s investment portfolio, making the stock its 26th largest holding. Vest Financial LLC’s holdings in Abbott Laboratories were worth $73,104,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. purchased a new position in Abbott Laboratories in the fourth quarter valued at about $25,000. Cornerstone Financial Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $25,000. Purpose Unlimited Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $25,000. Portfolio Resources Advisor Group Inc. bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $26,000. Finally, Abound Financial LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $26,000. 75.18% of the stock is owned by hedge funds and other institutional investors.
Abbott Laboratories Stock Performance
Abbott Laboratories stock opened at $116.62 on Friday. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $137.49. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $201.80 billion, a PE ratio of 37.74, a price-to-earnings-growth ratio of 2.26 and a beta of 0.59. The firm’s 50 day simple moving average is $100.08 and its 200 day simple moving average is $100.05.
Abbott Laboratories Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Wednesday, July 15th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.2%. The ex-dividend date was Wednesday, July 15th. Abbott Laboratories’s payout ratio is presently 81.55%.
Trending Headlines about Abbott Laboratories
Here are the key news stories impacting Abbott Laboratories this week:
- Positive Sentiment: Abbott’s Instinct continuous glucose sensor is now commercially shipping in the U.S. integrated with MiniMed’s Flex automated insulin-delivery system. The partnership expands Abbott’s presence in diabetes technology and could support sensor adoption and recurring revenue. MiniMed Ships MiniMed Flex With Abbott’s Smallest Instinct Sensor
- Positive Sentiment: Abbott also entered a multiyear agreement with HealthTab to distribute its Afinion 2 point-of-care analyzers through NHS-linked pharmacies in the United Kingdom. The deal may broaden access to Abbott’s HbA1c and lipid-testing products, although financial details were not disclosed. HealthTab Enters Multi-Year Collaboration Agreement with Abbott
- Neutral Sentiment: Abbott agreed to pay approximately $670 million to resolve the Gill case and claims from roughly 2,000 individuals involving specialty formulas for premature infants. The settlement resolves a portion of the litigation, including the appeal of a prior $495 million verdict, reducing uncertainty and potentially avoiding additional legal costs. Abbott denied that its products cause necrotizing enterocolitis and said regulators and medical professionals consider the formulas safe and necessary. Abbott agrees to $670 million settlement of infant formula cases
- Negative Sentiment: The settlement represents a significant cash and earnings cost and does not resolve all potential litigation related to the infant formulas. Investors may continue to assess the scope of remaining claims and the effect on Abbott’s legal reserves and profitability. Abbott reaches agreements to resolve a portion of litigation involving its specialty formulas
Wall Street Analyst Weigh In
Several brokerages have weighed in on ABT. TD Cowen reissued a “buy” rating and issued a $115.00 target price on shares of Abbott Laboratories in a research report on Friday, July 17th. Weiss Ratings raised Abbott Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Piper Sandler reiterated an “overweight” rating and set a $118.00 price target (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Wells Fargo & Company lifted their price objective on Abbott Laboratories from $109.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Finally, The Goldman Sachs Group lowered their price objective on Abbott Laboratories from $121.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.67.
Read Our Latest Research Report on Abbott Laboratories
About Abbott Laboratories
Abbott Laboratories is a global healthcare company headquartered in Abbott Park, Illinois, that develops, manufactures and markets a broad portfolio of medical products and services. Founded in 1888, Abbott operates through multiple business areas that focus on diagnostics, medical devices, nutritionals and established pharmaceuticals. The company supplies hospitals, clinics, laboratories, retailers and direct-to-consumer channels with products intended to diagnose, treat and manage a wide range of health conditions.
In diagnostics, Abbott provides laboratory and point-of-care testing platforms and assays used to detect infectious diseases, chronic conditions and biomarkers; its Alinity family of instruments and rapid-test solutions are examples of this capability.
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