Intrust Bank NA cut its stake in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 25.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,837 shares of the healthcare product maker’s stock after selling 5,184 shares during the period. Intrust Bank NA’s holdings in Abbott Laboratories were worth $1,346,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Abbott Laboratories by 2.1% during the 4th quarter. State Street Corp now owns 79,853,782 shares of the healthcare product maker’s stock worth $10,004,880,000 after purchasing an additional 1,627,791 shares in the last quarter. Capital International Investors grew its stake in shares of Abbott Laboratories by 2.6% in the fourth quarter. Capital International Investors now owns 63,229,445 shares of the healthcare product maker’s stock valued at $7,922,519,000 after buying an additional 1,614,706 shares in the last quarter. J. Stern & Co. LLP increased its holdings in Abbott Laboratories by 12,439.6% during the fourth quarter. J. Stern & Co. LLP now owns 39,319,009 shares of the healthcare product maker’s stock worth $4,926,279,000 after buying an additional 39,005,451 shares during the last quarter. Capital Research Global Investors raised its position in Abbott Laboratories by 1.0% during the fourth quarter. Capital Research Global Investors now owns 39,169,239 shares of the healthcare product maker’s stock worth $4,907,523,000 after acquiring an additional 400,400 shares in the last quarter. Finally, Norges Bank acquired a new stake in Abbott Laboratories in the fourth quarter valued at $2,938,892,000. 75.18% of the stock is currently owned by institutional investors.
Abbott Laboratories Stock Performance
NYSE ABT opened at $116.12 on Wednesday. The stock has a market cap of $200.94 billion, a PE ratio of 37.58, a P/E/G ratio of 2.26 and a beta of 0.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. The firm has a 50-day moving average of $101.15 and a 200-day moving average of $100.09. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $137.49.
Abbott Laboratories Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th were paid a dividend of $0.63 per share. The ex-dividend date was Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.2%. Abbott Laboratories’s dividend payout ratio (DPR) is 81.55%.
Key Abbott Laboratories News
Here are the key news stories impacting Abbott Laboratories this week:
- Positive Sentiment: The FDA authorized Abbott’s Libre Duo 10 Day, the first continuous monitor designed to track both glucose and ketone levels. The device could strengthen Abbott’s FreeStyle Libre ecosystem, help identify rising ketones before diabetic ketoacidosis emergencies, and support compatibility with automated insulin-delivery systems. Reuters article
- Positive Sentiment: TD Cowen raised its price target for ABT to $135 from $115 and maintained a “buy” rating. The upgrade signals confidence in Abbott’s growth prospects, particularly in continuous glucose monitoring and medical devices. Benzinga article
- Positive Sentiment: Medtronic’s MiniMed Flex insulin pump has begun shipping with an Abbott-made glucose sensor, expanding the potential distribution and application of Abbott’s sensor technology in automated insulin delivery. MedTech Dive article
- Neutral Sentiment: Recent comparisons portray Abbott as a relatively attractive healthcare and continuous glucose monitoring investment, citing valuation, liquidity and price-target upside. These assessments may support sentiment but do not represent new company operating results. Yahoo Finance article
- Negative Sentiment: Abbott agreed to pay $670 million to settle claims that its specialized premature-infant formulas contributed to necrotizing enterocolitis. The settlement removes some litigation uncertainty but highlights continuing legal and financial risks. Insider Monkey article
- Negative Sentiment: Diagnostics growth remains uneven: strong routine testing and 13% cancer-diagnostics growth are being partly offset by weaker respiratory testing demand. This could temper near-term revenue momentum. Yahoo Finance article
Wall Street Analysts Forecast Growth
ABT has been the subject of a number of analyst reports. Citigroup lifted their price objective on shares of Abbott Laboratories from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Friday, July 17th. The Goldman Sachs Group cut their target price on shares of Abbott Laboratories from $121.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Robert W. Baird started coverage on Abbott Laboratories in a research report on Wednesday, July 1st. They set an “outperform” rating and a $121.00 price target on the stock. BTIG Research upped their price objective on Abbott Laboratories from $131.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Finally, UBS Group cut their price objective on Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $119.50.
Read Our Latest Stock Analysis on ABT
Abbott Laboratories Company Profile
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.
Further Reading
- Five stocks we like better than Abbott Laboratories
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT – Free Report).
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.
