Abbott Laboratories $ABT Stock: Soltis Investment Advisors LLC Increases Position

Soltis Investment Advisors LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 42.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,230 shares of the healthcare product maker’s stock after purchasing an additional 4,835 shares during the period. Soltis Investment Advisors LLC’s holdings in Abbott Laboratories were worth $1,604,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Abbott Laboratories by 4.6% in the 2nd quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock worth $13,843,610,000 after buying an additional 6,769,518 shares during the last quarter. State Street Corp lifted its holdings in Abbott Laboratories by 1.7% during the second quarter. State Street Corp now owns 80,926,234 shares of the healthcare product maker’s stock worth $7,343,246,000 after acquiring an additional 1,350,766 shares during the period. Bank of America Corp DE bought a new stake in Abbott Laboratories during the second quarter worth $1,603,607,000. Deutsche Bank AG boosted its position in Abbott Laboratories by 18.6% in the second quarter. Deutsche Bank AG now owns 16,706,669 shares of the healthcare product maker’s stock worth $1,515,963,000 after purchasing an additional 2,614,965 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in Abbott Laboratories in the second quarter worth $1,082,524,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Up 1.7%

Abbott Laboratories stock opened at $106.33 on Friday. The firm has a market capitalization of $183.99 billion, a price-to-earnings ratio of 39.68, a P/E/G ratio of 1.83 and a beta of 0.59. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $132.02. 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 50 day simple moving average of $104.36 and a 200 day simple moving average of $102.06.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.42. Abbott Laboratories had a return on equity of 17.97% and a net margin of 9.75%. The business had revenue of $13.01 billion for the quarter, compared to analysts’ expectations of $12.99 billion. During the same quarter in the prior year, the firm posted $1.30 EPS. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. On average, analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s dividend payout ratio (DPR) is 94.03%.

Wall Street Analyst Weigh In

ABT has been the subject of several research analyst reports. Argus lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday. UBS Group cut their price target on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Citigroup reduced their target price on shares of Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $112.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $118.00 price target (up from $115.00) on shares of Abbott Laboratories in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average price target of $118.32.

Abbott Laboratories News Roundup

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Abbott began the pivotal CROWN-MV trial for its investigational Cephea Mitral Valve System, designed as a minimally invasive treatment for symptomatic mitral valve disease patients who are ineligible for surgery or transcatheter repair. Successful development could expand Abbott’s structural-heart portfolio, although the device remains investigational and carries clinical and regulatory risk. Abbott initiates pivotal trial for Cephea device
• Positive Sentiment: Industry reports forecast strong expansion in point-of-care diagnostics across South and Central America and continued growth in home INR monitoring. Abbott is listed among the key suppliers, suggesting potential long-term opportunities for its diagnostics business through testing volume, instruments and recurring consumables. South and Central America point-of-care diagnostics market Point-of-care INR testing market
• Neutral Sentiment: Discussion of Abbott’s approaching breakup highlights the potential for value creation through separating businesses, but also raises questions about execution, valuation and how costs and growth prospects will be allocated among the resulting companies. Can Abbott Laboratories Stay Reasonable As Its Breakup Nears?
• Negative Sentiment: Dexcom exceeded expectations and raised guidance, underscoring robust demand for continuous glucose-monitoring wearables but also intensifying competitive pressure on Abbott’s FreeStyle Libre franchise. Stronger execution by Dexcom could weigh on expectations for Abbott’s diabetes-care growth. Dexcom shakes off Abbott-tied malaise
• Negative Sentiment: Argus downgraded Abbott Laboratories, adding a near-term valuation and analyst-sentiment headwind. Abbott Laboratories stock gets downgrade from Argus

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.