Washington Trust Bank Decreases Position in Abbott Laboratories $ABT

Washington Trust Bank decreased its position in Abbott Laboratories (NYSE:ABT) by 79.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,953 shares of the healthcare product maker’s stock after selling 15,581 shares during the period. Washington Trust Bank’s holdings in Abbott Laboratories were worth $359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Mexico Educational Retirement Board raised its position in Abbott Laboratories by 7.7% during the second quarter. New Mexico Educational Retirement Board now owns 86,402 shares of the healthcare product maker’s stock worth $7,840,000 after acquiring an additional 6,200 shares during the last quarter. Mufg Securities Americas Inc. increased its stake in shares of Abbott Laboratories by 9.1% during the 2nd quarter. Mufg Securities Americas Inc. now owns 52,461 shares of the healthcare product maker’s stock worth $4,760,000 after purchasing an additional 4,356 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its position in shares of Abbott Laboratories by 15.6% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,412 shares of the healthcare product maker’s stock worth $491,000 after purchasing an additional 730 shares during the last quarter. Nissay Asset Management Corp Japan lifted its stake in Abbott Laboratories by 2.1% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 231,778 shares of the healthcare product maker’s stock valued at $21,032,000 after buying an additional 4,797 shares in the last quarter. Finally, Chapin Davis Inc. grew its holdings in Abbott Laboratories by 11.4% during the 2nd quarter. Chapin Davis Inc. now owns 5,466 shares of the healthcare product maker’s stock valued at $496,000 after buying an additional 558 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on ABT shares. TD Cowen upped their price objective on Abbott Laboratories from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Royal Bank Of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of Abbott Laboratories in a research note on Friday, July 17th. Wells Fargo & Company lifted their price target on shares of Abbott Laboratories from $109.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Citigroup upped their price objective on shares of Abbott Laboratories from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Finally, Piper Sandler restated an “overweight” rating and set a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. Three 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.50.

Abbott Laboratories Trading Down 0.5%

NYSE ABT opened at $108.29 on Friday. The company has a market cap of $187.38 billion, a P/E ratio of 35.05, a P/E/G ratio of 2.02 and a beta of 0.59. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $137.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. The company has a 50-day moving average of $104.43 and a 200-day moving average of $100.12.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.03. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The business had revenue of $12.59 billion for the quarter, compared to analysts’ expectations of $12.52 billion. During the same period last year, the company earned $1.26 earnings per share. The company’s quarterly revenue 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. As a group, equities analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed 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 of this dividend was Wednesday, July 15th. This represents a $2.52 annualized dividend and a dividend 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.