Abbott Laboratories $ABT Stock Sold by Glenview Trust Co

Glenview Trust Co decreased its position in Abbott Laboratories (NYSE:ABT) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,800 shares of the healthcare product maker’s stock after selling 4,791 shares during the quarter. Glenview Trust Co’s holdings in Abbott Laboratories were worth $8,578,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ABT. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Abbott Laboratories in the third quarter valued at approximately $4,806,000. Parcion Private Wealth LLC increased its position in Abbott Laboratories by 8.7% during the third quarter. Parcion Private Wealth LLC now owns 74,627 shares of the healthcare product maker’s stock worth $7,375,000 after acquiring an additional 6,003 shares during the period. Partners Wealth Management LLC acquired a new position in Abbott Laboratories during the 3rd quarter valued at $267,000. Soltis Investment Advisors LLC raised its stake in Abbott Laboratories by 42.4% during the 3rd quarter. Soltis Investment Advisors LLC now owns 16,230 shares of the healthcare product maker’s stock valued at $1,604,000 after purchasing an additional 4,835 shares during the last quarter. Finally, Founders Financial Securities LLC raised its stake in Abbott Laboratories by 20.1% during the 3rd quarter. Founders Financial Securities LLC now owns 3,899 shares of the healthcare product maker’s stock valued at $385,000 after purchasing an additional 652 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about 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

Wall Street Analysts Forecast Growth

ABT has been the topic of several research analyst reports. UBS Group decreased their price target on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Piper Sandler reaffirmed an “overweight” rating and set a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. Wolfe Research upgraded shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 target price for the company in a research note on Thursday, August 13th. Rothschild & Co Redburn upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and increased their target price for the company from $119.00 to $127.00 in a research note on Friday, October 2nd. Finally, Argus lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday. Two 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $118.32.

Abbott Laboratories Price Performance

Shares of ABT stock opened at $106.33 on Friday. The firm’s 50 day moving average price is $104.36 and its two-hundred day moving average price is $102.06. The stock has a market cap of $183.99 billion, a PE ratio of 39.68, a PEG ratio of 1.83 and a beta of 0.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $132.02.

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

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.63 per share. 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 (DPR) is 94.03%.

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.