Abbott Laboratories $ABT Stock: Perpetual Ltd Trims Stake

Key Points

• Perpetual Ltd. reduced its Abbott Laboratories stake by 5.6% in the third quarter, selling 26,238 shares and retaining 444,048 shares valued at approximately $43.9 million. Institutional investors collectively own 75.18% of Abbott’s stock.
• Wall Street remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $118.88; 24 analysts rate the stock Buy or Strong Buy, while four recommend Hold.
• Abbott exceeded quarterly earnings and revenue expectations, reporting $1.31 in EPS and $12.59 billion in revenue, while announcing a $0.63 quarterly dividend—a 2.5% annualized yield.

Perpetual Ltd trimmed its position in Abbott Laboratories (NYSE:ABT - Free Report) by 5.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 444,048 shares of the healthcare product maker's stock after selling 26,238 shares during the quarter. Perpetual Ltd's holdings in Abbott Laboratories were worth $43,885,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $25,000. Purpose Unlimited Inc. bought a new position in Abbott Laboratories during the fourth quarter worth about $25,000. Portfolio Resources Advisor Group Inc. acquired a new stake in Abbott Laboratories in the 4th quarter worth about $26,000. Abound Financial LLC acquired a new stake in Abbott Laboratories in the 4th quarter worth about $26,000. Finally, Manning & Napier Advisors LLC acquired a new stake in Abbott Laboratories in the 2nd quarter worth about $31,000. Institutional investors own 75.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Abbott Laboratories from $109.00 to $112.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Rothschild & Co Redburn raised shares of Abbott Laboratories from a "neutral" rating to a "buy" rating and raised their target price for the stock from $119.00 to $127.00 in a report on Friday, October 2nd. Citigroup lifted their price target on shares of Abbott Laboratories from $108.00 to $112.00 and gave the company a "buy" rating in a research report on Friday, July 17th. TD Cowen reiterated a "buy" rating and issued a $135.00 price target on shares of Abbott Laboratories in a research note on Tuesday, September 8th. Finally, Barclays initiated coverage on Abbott Laboratories in a research note on Wednesday, October 7th. They issued an "overweight" rating and a $120.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $118.88.

Abbott Laboratories Stock Performance

ABT opened at $101.79 on Tuesday. 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 $133.34. The firm has a market cap of $176.13 billion, a P/E ratio of 32.94, a price-to-earnings-growth ratio of 1.85 and a beta of 0.59. The business's fifty day moving average is $106.14 and its 200-day moving average is $98.29.

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

Abbott Laboratories Announces Dividend

The company 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 $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Thursday, October 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 81.55%.

About Abbott Laboratories

Abbott Laboratories NYSE: ABT is a diversified healthcare company that develops, manufactures and sells medical devices, diagnostic products, nutritional products and branded generic pharmaceuticals. Founded in 1888 by Wallace C. Abbott, the company serves healthcare providers, institutions, retailers and consumers worldwide.

Abbott's medical device portfolio includes cardiovascular products, such as coronary stents, structural heart systems and heart failure devices, as well as diabetes-care technologies, including the FreeStyle Libre continuous glucose monitoring system.

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