Bank of America Corp DE Acquires Shares of 17,672,543 Abbott Laboratories $ABT

Key Points

• Bank of America acquired 17.67 million Abbott shares worth approximately $1.60 billion, giving it a 1.02% stake; institutional investors and hedge funds collectively own 75.18% of ABT.
• Abbott exceeded quarterly expectations with adjusted EPS of $1.31 versus $1.28 expected and revenue of $12.59 billion, up 13% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $119.50.
• Abbott agreed to pay $385 million to resolve DOJ claims tied to its 2022 infant-formula recall and Sturgis plant, closing the criminal investigation but creating a significant one-time cost and ongoing reputational risk.

Bank of America Corp DE purchased a new stake in Abbott Laboratories (NYSE:ABT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 17,672,543 shares of the healthcare product maker's stock, valued at approximately $1,603,607,000. Bank of America Corp DE owned 1.02% of Abbott Laboratories as of its most recent filing with the SEC.

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

Abbott Laboratories Trading Up 1.2%

ABT opened at $103.18 on Tuesday. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $137.49. 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 business has a fifty day simple moving average of $105.75 and a 200-day simple moving average of $99.66. The firm has a market cap of $178.53 billion, a P/E ratio of 33.39, a P/E/G ratio of 1.89 and a beta of 0.59.

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, topping the consensus estimate of $1.28 by $0.03. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The company had revenue of $12.59 billion during the quarter, compared to analysts' expectations of $12.52 billion. During the same quarter in the previous year, the business posted $1.26 EPS. The firm'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. On average, equities analysts expect that Abbott Laboratories will post 5.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of recent research reports. Citigroup increased their target price 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. BTIG Research boosted their price target on shares of Abbott Laboratories from $131.00 to $134.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $109.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. TD Cowen reissued a "buy" rating and issued a $135.00 target price on shares of Abbott Laboratories in a research note on Tuesday, September 8th. Finally, Piper Sandler restated 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. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $119.50.

Trending Headlines about Abbott Laboratories

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Relative strength and sector support: Abbott gained while the broader market declined, while the NYSE Healthcare Index advanced during afternoon trading. The move also represents a rebound after six straight sessions of losses. Abbott rises as market takes a dip Healthcare stocks rise
• Neutral Sentiment: Legal uncertainty reduced: Abbott agreed to pay $385 million to resolve the Department of Justice investigation, related claims and lawsuits involving manufacturing practices and the 2022 recall at its Sturgis, Michigan, formula plant. The company said the settlement does not acknowledge fault or liability, the government’s criminal investigation is closed, and regulator testing of unopened products linked to the investigation was negative for Cronobacter sakazakii. Resolution of the matter removes a continuing legal overhang, although the payment is financially material. Abbott DOJ settlement announcement Abbott reaches agreement with DOJ
• Negative Sentiment: Settlement cost and reputational risk: The $385 million payment adds a significant one-time financial charge and keeps attention on the infant formula recall, plant closure and related product-safety concerns. Abbott infant formula settlement

About Abbott Laboratories

Abbott Laboratories NYSE: ABT is a global healthcare company that develops, manufactures and sells medical products and technologies. Its operations span four principal areas: medical devices, diagnostics, established pharmaceutical products and nutrition. Abbott serves healthcare providers, institutions and consumers in markets around the world.

The company's medical device portfolio includes products for cardiovascular care, diabetes management and other specialties. Its diagnostics business provides laboratory systems, tests and point-of-care solutions, while its nutrition products include infant, child and adult nutritional offerings sold under brands such as Similac, Ensure and Pedialyte.

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