Abbott Laboratories $ABT Stock Bought by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC increased its position in Abbott Laboratories (NYSE:ABT) by 42.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,230 shares of the healthcare product maker’s stock after buying an additional 4,835 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Abbott Laboratories were worth $1,604,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC grew its position in Abbott Laboratories by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 84,377 shares of the healthcare product maker’s stock worth $8,339,000 after acquiring an additional 10,431 shares during the last quarter. Juncture Wealth Strategies LLC purchased a new position in Abbott Laboratories in the 3rd quarter worth approximately $658,000. Aureus Asset Management LLC lifted its position in Abbott Laboratories by 25.0% in the first quarter. Aureus Asset Management LLC now owns 331,920 shares of the healthcare product maker’s stock valued at $34,078,000 after purchasing an additional 66,422 shares during the last quarter. Thompson Investment Management Inc. lifted its position in Abbott Laboratories by 786.0% in the second quarter. Thompson Investment Management Inc. now owns 14,061 shares of the healthcare product maker’s stock valued at $1,276,000 after purchasing an additional 12,474 shares during the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $4,889,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $106.33 on Friday. The stock has a market cap of $183.99 billion, a P/E ratio of 39.68, a price-to-earnings-growth ratio of 1.83 and a beta of 0.59. The firm’s fifty day simple moving average is $104.36 and its 200 day simple moving average is $102.06. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $132.02. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.57.

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, meeting analysts’ consensus estimates of $1.42. Abbott Laboratories had a net margin of 9.75% and a return on equity of 17.97%. The business had revenue of $13.01 billion for the quarter, compared to the consensus estimate of $12.99 billion. During the same period in the previous year, the firm earned $1.30 EPS. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, research analysts predict that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, October 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. Abbott Laboratories’s payout ratio is currently 94.03%.

Key Stories Impacting Abbott Laboratories

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

Analysts Set New Price Targets

ABT has been the topic of several recent analyst reports. Barclays started coverage on shares of Abbott Laboratories in a report on Wednesday, October 7th. They issued an “overweight” rating and a $120.00 target price on the stock. Citigroup dropped their price target 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. Rothschild & Co Redburn raised shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and raised their price target for the stock from $119.00 to $127.00 in a report on Friday, October 2nd. UBS Group reduced their price target on Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Finally, Wall Street Zen raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.32.

About Abbott Laboratories

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.