State Street Corp lifted its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,926,234 shares of the healthcare product maker’s stock after buying an additional 1,350,766 shares during the period. State Street Corp owned about 4.68% of Abbott Laboratories worth $7,343,246,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of ABT. MidAtlantic Capital Management Inc. bought a new stake in Abbott Laboratories during the 4th quarter worth about $25,000. Cornerstone Financial Management LLC bought a new position in shares of Abbott Laboratories in the 4th quarter valued at about $25,000. Purpose Unlimited Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $25,000. Portfolio Resources Advisor Group Inc. acquired a new position in Abbott Laboratories during the fourth quarter valued at approximately $26,000. Finally, Abound Financial LLC bought a new position in Abbott Laboratories in the fourth quarter valued at approximately $26,000. Institutional investors and hedge funds own 75.18% of the company’s stock.
Wall Street Analysts Forecast Growth
ABT has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on Abbott Laboratories from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. TD Cowen reissued a “buy” rating and issued a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, September 8th. Wolfe Research raised shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price target on the stock in a research report on Thursday, August 13th. Bank of America cut their price target on shares of Abbott Laboratories from $120.00 to $102.00 in a research note on Friday, June 12th. Finally, The Goldman Sachs Group lowered their price objective on shares of 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 analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.50.
Abbott Laboratories Price Performance
NYSE ABT traded up $1.03 during trading on Tuesday, hitting $104.01. 2,637,689 shares of the company’s stock were exchanged, compared to its average volume of 11,461,565. The company has a market cap of $179.98 billion, a PE ratio of 33.67, a P/E/G ratio of 1.90 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. Abbott Laboratories has a fifty-two week low of $81.97 and a fifty-two week high of $136.88. The stock’s 50 day moving average price is $106.57 and its two-hundred day moving average price is $99.22.
Abbott Laboratories (NYSE:ABT – Get Free Report) last released its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.03. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%.The company had revenue of $12.59 billion for the quarter, compared to the consensus estimate of $12.52 billion. During the same quarter last year, the business posted $1.26 EPS. Abbott Laboratories’s revenue for the quarter was up 13.0% on a year-over-year basis. 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. Research analysts expect that Abbott Laboratories will post 5.52 EPS for the current year.
Abbott Laboratories Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio is 81.55%.
About Abbott Laboratories
Abbott Laboratories (NYSE: ABT) is a global healthcare company that develops, manufactures and sells medical products and technologies. Its operations span four principal areas: medical devices, diagnostics, established pharmaceutical products and nutrition. Abbott serves healthcare providers, institutions and consumers in markets around the world.
The company’s medical device portfolio includes products for cardiovascular care, diabetes management and other specialties. Its diagnostics business provides laboratory systems, tests and point-of-care solutions, while its nutrition products include infant, child and adult nutritional offerings sold under brands such as Similac, Ensure and Pedialyte.
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