Northwestern Mutual Wealth Management Co. bought a new stake in Abbott Laboratories (NYSE:ABT – Free Report) in the second quarter, HoldingsChannel reports. The fund bought 255,295 shares of the healthcare product maker’s stock, valued at approximately $23,165,000.
A number of other large investors also recently bought and sold shares of ABT. Brighton Jones LLC increased its holdings in shares of Abbott Laboratories by 10.1% during the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after buying an additional 4,755 shares during the last quarter. Sivia Capital Partners LLC grew its position in Abbott Laboratories by 3.5% during the second quarter. Sivia Capital Partners LLC now owns 4,768 shares of the healthcare product maker’s stock valued at $648,000 after acquiring an additional 162 shares during the period. United Bank increased its stake in Abbott Laboratories by 7.4% during the second quarter. United Bank now owns 29,004 shares of the healthcare product maker’s stock worth $3,945,000 after acquiring an additional 2,001 shares during the last quarter. Main Street Financial Solutions LLC raised its holdings in shares of Abbott Laboratories by 13.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,894 shares of the healthcare product maker’s stock worth $1,618,000 after purchasing an additional 1,428 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Abbott Laboratories by 25.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,435,683 shares of the healthcare product maker’s stock worth $195,267,000 after purchasing an additional 292,547 shares during the period. Hedge funds and other institutional investors own 75.18% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. UBS Group reduced their price target on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Piper Sandler reissued an “overweight” rating and issued a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $109.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Weiss Ratings upgraded Abbott Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Finally, Robert W. Baird started coverage on Abbott Laboratories in a research note on Wednesday, July 1st. They set an “outperform” rating and a $121.00 price objective on the stock. 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 company’s stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.50.
Abbott Laboratories Price Performance
ABT opened at $110.48 on Tuesday. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $137.49. The firm has a market cap of $191.17 billion, a price-to-earnings ratio of 35.75, a PEG ratio of 2.18 and a beta of 0.59. 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 company has a fifty day simple moving average of $103.06 and a 200 day simple moving average of $100.13.
Abbott Laboratories (NYSE:ABT – Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. The company had revenue of $12.59 billion during the quarter, compared to analysts’ expectations of $12.52 billion. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 EPS. Abbott Laboratories has set its Q3 2026 guidance at 1.380-1.46 EPS and its FY 2026 guidance at 5.450-5.60 EPS. Equities research analysts expect that Abbott Laboratories will post 5.52 EPS for the current fiscal year.
Abbott Laboratories Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.63 per share. The ex-dividend date was Wednesday, July 15th. This represents a $2.52 annualized dividend and a yield of 2.3%. Abbott Laboratories’s payout ratio is currently 81.55%.
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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