Abbott Laboratories $ABT Shares Sold by Washington Trust Bank

Washington Trust Bank lessened its holdings in shares of Abbott Laboratories (NYSE:ABT) by 79.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,953 shares of the healthcare product maker’s stock after selling 15,581 shares during the quarter. Washington Trust Bank’s holdings in Abbott Laboratories were worth $359,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Piper Sandler reiterated an “overweight” rating and set a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a report on Friday, July 17th. BTIG Research increased their price objective on shares of Abbott Laboratories from $131.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 17th. The Goldman Sachs Group dropped their price objective on shares of Abbott Laboratories from $121.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. 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. Finally, Robert W. Baird assumed coverage on shares of Abbott Laboratories in a report on Wednesday, July 1st. They set an “outperform” rating and a $121.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $119.50.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $108.29 on Friday. 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 has a fifty-two week low of $81.97 and a fifty-two week high of $137.49. The business has a 50 day moving average price of $104.43 and a two-hundred day moving average price of $100.12. The firm has a market cap of $187.38 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 2.02 and a beta of 0.59.

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

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) 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.