Abbott Laboratories $ABT Stock Bought by Parcion Private Wealth LLC

Parcion Private Wealth LLC grew its stake in Abbott Laboratories (NYSE:ABT) by 8.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,627 shares of the healthcare product maker’s stock after acquiring an additional 6,003 shares during the period. Parcion Private Wealth LLC’s holdings in Abbott Laboratories were worth $7,375,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Elwood & Goetz Wealth Advisory Group LLC increased its holdings in Abbott Laboratories by 3.1% during the 3rd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 3,216 shares of the healthcare product maker’s stock worth $318,000 after purchasing an additional 97 shares during the period. Parkway Wealth Management Group LLC lifted its holdings in shares of Abbott Laboratories by 3.2% in the 3rd quarter. Parkway Wealth Management Group LLC now owns 3,208 shares of the healthcare product maker’s stock worth $317,000 after buying an additional 98 shares during the period. St. Johns Investment Management Company LLC grew its position in shares of Abbott Laboratories by 1.0% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 9,859 shares of the healthcare product maker’s stock worth $895,000 after buying an additional 101 shares in the last quarter. AA Financial Advisors LLC grew its position in shares of Abbott Laboratories by 1.7% during the 3rd quarter. AA Financial Advisors LLC now owns 6,186 shares of the healthcare product maker’s stock worth $611,000 after buying an additional 101 shares in the last quarter. Finally, Eagle Bay Advisors LLC increased its stake in shares of Abbott Laboratories by 1.2% during the third quarter. Eagle Bay Advisors LLC now owns 8,448 shares of the healthcare product maker’s stock valued at $835,000 after buying an additional 102 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Key Headlines 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

Abbott Laboratories Stock Up 1.7%

ABT stock opened at $106.33 on Friday. The stock has a market capitalization of $183.99 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 1.83 and a beta of 0.59. Abbott Laboratories has a 52 week low of $81.97 and a 52 week 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. The firm has a 50 day moving average of $104.36 and a 200 day moving average of $102.06.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results 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. The business had revenue of $13.01 billion for the quarter, compared to analyst estimates of $12.99 billion. Abbott Laboratories had a net margin of 9.75% and a return on equity of 17.97%. Abbott Laboratories’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 EPS. Sell-side analysts forecast that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ABT. Citigroup decreased their price objective on Abbott Laboratories from $125.00 to $122.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Barclays assumed coverage on shares of Abbott Laboratories in a report on Wednesday, October 7th. They set an “overweight” rating and a $120.00 target price on the stock. Weiss Ratings raised shares of Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. BTIG Research reduced their price target on shares of Abbott Laboratories from $134.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Finally, Argus cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has a consensus 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.