Benjamin Edwards Inc. Has $20.96 Million Stake in Abbott Laboratories $ABT

Key Points

• Benjamin Edwards Inc. reduced its Abbott Laboratories position by 35.6% in the second quarter, selling 127,686 shares and retaining 230,949 shares valued at approximately $20.96 million.
• Wall Street remains broadly positive on Abbott, with a “Moderate Buy” consensus rating and an average price target of $119.50; recent targets range from $113 to $135.
• Abbott exceeded quarterly earnings and revenue expectations, reporting $1.31 in EPS and $12.59 billion in revenue, while maintaining a quarterly dividend of $0.63 per share, equivalent to a 2.3% annualized yield.

Benjamin Edwards Inc. trimmed its position in Abbott Laboratories (NYSE:ABT - Free Report) by 35.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 230,949 shares of the healthcare product maker's stock after selling 127,686 shares during the quarter. Benjamin Edwards Inc.'s holdings in Abbott Laboratories were worth $20,959,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ABT. Nia Impact Advisors LLC boosted its position in shares of Abbott Laboratories by 2.2% during the second quarter. Nia Impact Advisors LLC now owns 3,706 shares of the healthcare product maker's stock worth $504,000 after purchasing an additional 79 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its holdings in shares of Abbott Laboratories by 9.3% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,031 shares of the healthcare product maker's stock valued at $140,000 after purchasing an additional 88 shares during the last quarter. Eley Financial Management Inc increased its position in shares of Abbott Laboratories by 0.9% in the fourth quarter. Eley Financial Management Inc now owns 10,817 shares of the healthcare product maker's stock valued at $1,355,000 after acquiring an additional 92 shares during the last quarter. Copley Financial Group Inc. increased its position in shares of Abbott Laboratories by 2.1% during the 4th quarter. Copley Financial Group Inc. now owns 4,435 shares of the healthcare product maker's stock worth $556,000 after purchasing an additional 93 shares during the last quarter. Finally, Kelleher Financial Advisors lifted its stake in Abbott Laboratories by 2.9% in the third quarter. Kelleher Financial Advisors now owns 3,301 shares of the healthcare product maker's stock valued at $442,000 after acquiring an additional 93 shares during the last quarter. Institutional investors own 75.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ABT shares. UBS Group dropped their price objective on shares of Abbott Laboratories from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Tuesday, July 28th. The Goldman Sachs Group cut their target price on shares of Abbott Laboratories from $121.00 to $113.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Royal Bank Of Canada reissued an "outperform" rating and set a $130.00 target price on shares of Abbott Laboratories in a report on Friday, July 17th. Wolfe Research raised Abbott Laboratories from a "peer perform" rating to an "outperform" rating and set a $130.00 price objective on the stock in a research note on Thursday, August 13th. Finally, TD Cowen lifted their target price on Abbott Laboratories from $115.00 to $135.00 and gave the stock a "buy" rating in a report on Tuesday, August 25th. Three 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 company. According to MarketBeat, Abbott Laboratories has an average rating of "Moderate Buy" and an average price target of $119.50.

Abbott Laboratories Price Performance

NYSE ABT opened at $108.29 on Friday. The company 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. The firm's 50-day simple moving average is $104.43 and its two-hundred day simple moving average is $100.12. 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.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share 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 previous year, the business earned $1.26 earnings per share. The firm's quarterly revenue 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. Research analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source