Diamond Hill Capital Management LLC Investment Advisor Reduces Stock Holdings in Abbott Laboratories $ABT

Diamond Hill Capital Management LLC Investment Advisor lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 8.2% in the second quarter, Holdings Channel.com reports. The fund owned 4,936,774 shares of the healthcare product maker’s stock after selling 442,066 shares during the quarter. Abbott Laboratories comprises about 3.6% of Diamond Hill Capital Management LLC Investment Advisor’s holdings, making the stock its 2nd biggest position. Diamond Hill Capital Management LLC Investment Advisor’s holdings in Abbott Laboratories were worth $447,963,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. MidAtlantic Capital Management Inc. purchased a new stake in Abbott Laboratories during the fourth quarter valued at about $25,000. Cornerstone Financial Management LLC purchased a new position in shares of Abbott Laboratories in the fourth quarter worth approximately $25,000. Purpose Unlimited Inc. acquired a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $25,000. Portfolio Resources Advisor Group Inc. purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $26,000. Finally, Abound Financial LLC acquired a new position in Abbott Laboratories in the 4th quarter worth approximately $26,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

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 U.S. wearable designed to continuously monitor both glucose and ketones. The device is cleared for diabetes patients age two and older and could strengthen Abbott’s Libre franchise, particularly as the company works toward integration with insulin pumps. What Does Abbott Laboratories FDA Clearance Mean for Its Diabetes Device Push?
• Positive Sentiment: Abbott received the European CE Mark for its next-generation Amulet 360 left atrial appendage occluder. The device is intended to reduce stroke risk in patients with non-valvular atrial fibrillation and may reduce reliance on blood-thinning medication. Recent trial data reportedly met safety and effectiveness benchmarks, supporting Abbott’s structural-heart and electrophysiology businesses. Abbott Amulet 360 Receives CE Mark
• Positive Sentiment: TD Cowen analyst commentary indicated that Abbott’s stock could rise, providing an additional vote of confidence in the company’s outlook. TD Cowen Says Abbott Stock Could Rise
• Neutral Sentiment: The regulatory approvals are strategically important, but their financial benefits will depend on commercial adoption, reimbursement, competitive responses and the timing of integration with insulin-pump systems.
• Negative Sentiment: Abbott underperformed while the broader market gained. The pullback suggests that investors may be focusing on the stock’s relatively high valuation and the fact that the newly approved products are longer-term growth catalysts rather than immediate earnings drivers. Why Abbott Stock Declined as the Market Gained

Analyst Ratings Changes

A number of research firms have recently issued reports on ABT. Wells Fargo & Company increased their target price on Abbott Laboratories from $109.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, July 17th. UBS Group decreased their price target on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Abbott Laboratories in a research report on Friday, July 17th. TD Cowen upped their price objective on shares of Abbott Laboratories from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Bank of America decreased their target price on shares of Abbott Laboratories from $120.00 to $102.00 in a research note on Friday, June 12th. Three investment 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. Based on data from MarketBeat.com, Abbott Laboratories has an average rating of “Moderate Buy” and an average target price of $119.50.

Abbott Laboratories Stock Down 2.3%

Shares of Abbott Laboratories stock opened at $111.46 on Friday. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $137.49. The stock has a market capitalization of $192.87 billion, a P/E ratio of 36.07, a PEG ratio of 2.21 and a beta of 0.59. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average price of $102.12 and a two-hundred day moving average price of $100.13.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $12.52 billion. During the same period in the previous year, the company earned $1.26 earnings per share. 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. Equities analysts expect that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th were paid a $0.63 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. Abbott Laboratories’s payout ratio is presently 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.