315,052 Shares in Abbott Laboratories $ABT Acquired by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co purchased a new stake in Abbott Laboratories (NYSE:ABT - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 315,052 shares of the healthcare product maker's stock, valued at approximately $28,588,000.

Several other institutional investors have also modified their holdings of the stock. Westpac Banking Corp acquired a new position in shares of Abbott Laboratories in the 2nd quarter valued at $1,091,000. TRB Wealth Management LLC purchased a new stake in Abbott Laboratories in the second quarter valued at $312,000. Sumitomo Life Insurance Co. acquired a new position in Abbott Laboratories in the second quarter valued at $1,040,000. Korea Investment CORP purchased a new position in shares of Abbott Laboratories during the second quarter worth about $79,616,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Abbott Laboratories during the second quarter worth about $7,183,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BTIG Research upped their target price on Abbott Laboratories from $131.00 to $134.00 and gave the company a "buy" rating in a research report on Friday, July 17th. Piper Sandler reiterated an "overweight" rating and issued a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Robert W. Baird assumed coverage on shares of Abbott Laboratories in a research report on Wednesday, July 1st. They set an "outperform" rating and a $121.00 target price on the stock. Bank of America cut their target price on shares of Abbott Laboratories from $120.00 to $102.00 in a report on Friday, June 12th. Finally, Wolfe Research upgraded shares of Abbott Laboratories from a "peer perform" rating to an "outperform" rating and set a $130.00 price target for the company in a research report on Thursday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $119.50.

Abbott Laboratories Stock Down 1.8%

Abbott Laboratories stock opened at $110.48 on Tuesday. The stock has a 50 day moving average of $103.06 and a two-hundred day moving average of $100.13. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $137.49. The stock has a market capitalization of $191.17 billion, a price-to-earnings ratio of 35.75, a PEG ratio of 2.18 and a beta of 0.59. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.03. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%.The business had revenue of $12.59 billion for the quarter, compared to analyst estimates of $12.52 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. 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. As a group, research analysts expect that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Wednesday, July 15th. Abbott Laboratories's payout ratio is 81.55%.

Abbott Laboratories Profile

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.

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