Commerce Bank Acquires Shares of 447,670 Abbott Laboratories $ABT

Key Points

• Commerce Bank acquired 447,670 Abbott Laboratories shares in the second quarter, valued at approximately $40.6 million. Institutional investors collectively own 75.18% of Abbott’s stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $119.50, despite some firms lowering targets.
• Abbott exceeded quarterly earnings and revenue expectations, reporting $1.31 in EPS and $12.59 billion in revenue, while posting 13% year-over-year revenue growth. The company also pays a $0.63 quarterly dividend, equivalent to a 2.3% yield.

Commerce Bank bought a new position in Abbott Laboratories (NYSE:ABT - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 447,670 shares of the healthcare product maker's stock, valued at approximately $40,622,000.

Several other institutional investors and hedge funds have also modified their holdings of ABT. BlackRock Inc. grew its stake in Abbott Laboratories by 4.6% in the second quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker's stock valued at $13,843,610,000 after purchasing an additional 6,769,518 shares in the last quarter. State Street Corp raised its stake in shares of Abbott Laboratories by 2.1% during the 4th quarter. State Street Corp now owns 79,853,782 shares of the healthcare product maker's stock worth $10,004,880,000 after purchasing an additional 1,627,791 shares in the last quarter. Capital International Investors lifted its holdings in shares of Abbott Laboratories by 2.6% during the 4th quarter. Capital International Investors now owns 63,229,445 shares of the healthcare product maker's stock valued at $7,922,519,000 after buying an additional 1,614,706 shares during the last quarter. J. Stern & Co. LLP grew its stake in shares of Abbott Laboratories by 12,439.6% in the 4th quarter. J. Stern & Co. LLP now owns 39,319,009 shares of the healthcare product maker's stock valued at $4,926,279,000 after buying an additional 39,005,451 shares in the last quarter. Finally, Capital Research Global Investors raised its position in Abbott Laboratories by 1.0% during the fourth quarter. Capital Research Global Investors now owns 39,169,239 shares of the healthcare product maker's stock valued at $4,907,523,000 after acquiring an additional 400,400 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABT has been the topic of several analyst reports. Bank of America dropped their price target on shares of Abbott Laboratories from $120.00 to $102.00 in a research note on Friday, June 12th. The Goldman Sachs Group lowered 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. Weiss Ratings upgraded Abbott Laboratories from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. TD Cowen upped their price target on Abbott Laboratories from $115.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, August 25th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $130.00 price objective on shares of Abbott Laboratories in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.50.

Abbott Laboratories Price Performance

NYSE ABT opened at $110.48 on Tuesday. The stock has a 50-day simple moving average of $103.06 and a 200 day simple 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 PE ratio of 35.75, a P/E/G ratio of 2.18 and a beta of 0.59. 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 (NYSE:ABT - Get Free Report) last issued 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 return on equity of 17.69% and a net margin of 11.65%.The company had revenue of $12.59 billion for the quarter, compared to the consensus estimate of $12.52 billion. During the same period in the previous year, the business posted $1.26 EPS. The company's revenue for the quarter 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. Research analysts anticipate that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th were issued a dividend of $0.63 per share. The ex-dividend date was Wednesday, July 15th. This represents a $2.52 annualized dividend and a dividend 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