Glenview Trust Co Buys New Shares in Abbott Laboratories $ABT

Key Points

• Glenview Trust Co. initiated a position in Abbott Laboratories, purchasing 91,591 shares valued at approximately $8.3 million during the second quarter. Institutional investors collectively own 75.18% of ABT.
• Analysts maintain a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $119.50. Several firms recently raised their targets, although UBS and Goldman Sachs lowered theirs.
• Abbott exceeded quarterly expectations with adjusted EPS of $1.31 and revenue of $12.59 billion, up 13% year over year. The company also reaffirmed 2026 earnings guidance and pays a quarterly dividend of $0.63 per share, yielding about 2.3%.

Glenview Trust Co bought a new position in shares of Abbott Laboratories (NYSE:ABT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 91,591 shares of the healthcare product maker's stock, valued at approximately $8,311,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. Brighton Jones LLC increased its position in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after buying an additional 4,755 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Abbott Laboratories by 3.5% in the second quarter. Sivia Capital Partners LLC now owns 4,768 shares of the healthcare product maker's stock worth $648,000 after acquiring an additional 162 shares in the last quarter. United Bank grew its stake in Abbott Laboratories by 7.4% in the second quarter. United Bank now owns 29,004 shares of the healthcare product maker's stock valued at $3,945,000 after acquiring an additional 2,001 shares during the period. Main Street Financial Solutions LLC increased its holdings in shares of Abbott Laboratories by 13.6% during the second quarter. Main Street Financial Solutions LLC now owns 11,894 shares of the healthcare product maker's stock valued at $1,618,000 after acquiring an additional 1,428 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Abbott Laboratories by 25.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,435,683 shares of the healthcare product maker's stock valued at $195,267,000 after acquiring an additional 292,547 shares in the last quarter. 75.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of recent research reports. BTIG Research increased their target price on Abbott Laboratories from $131.00 to $134.00 and gave the stock a "buy" rating in a report on Friday, July 17th. Piper Sandler restated an "overweight" rating and set a $118.00 price target (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. The Goldman Sachs Group lowered their price objective on shares of Abbott Laboratories from $121.00 to $113.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. UBS Group reduced their price objective on shares of Abbott Laboratories from $135.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, July 28th. Finally, Wells Fargo & Company boosted 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. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $119.50.

Abbott Laboratories News Summary

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

• Positive Sentiment: Abbott shares outperformed the broader market in the latest session, suggesting continued investor support for the diversified healthcare-products company. The move adds to its gains above both its 50-day and 200-day moving averages. Abbott Exceeds Market Returns: Some Facts to Consider
• Neutral Sentiment: A separate market comparison reported that Abbott underperformed its competitors during Tuesday’s trading session. The article did not identify a company-specific operational problem, making the relative weakness more relevant to short-term sentiment than to Abbott’s long-term fundamentals. Abbott Laboratories Stock Underperforms Tuesday
• Neutral Sentiment: Vice President John McCoy Jr. sold 27 shares for approximately $2,958. The transaction reduced his direct holdings by only 0.11%, leaving him with 24,549 shares, so it is too small to represent a meaningful change in insider conviction. SEC Insider Transaction Filing
• Neutral Sentiment: An investor-focused healthcare article mentioned Abbott primarily as the former parent of AbbVie, rather than discussing new developments at ABT. It therefore provides little direct information about Abbott’s near-term earnings or valuation. Abbott Laboratories Company Information

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $108.81 on Friday. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $137.49. The company's 50 day moving average price is $104.14 and its two-hundred day moving average price is $100.06. The stock has a market cap of $188.28 billion, a P/E ratio of 35.21, a P/E/G ratio of 2.05 and a beta of 0.59. 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 released its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.03. The company had revenue of $12.59 billion during the quarter, compared to analyst estimates of $12.52 billion. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%.Abbott Laboratories's quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $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. On average, equities analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.3%. Abbott Laboratories's dividend payout ratio (DPR) is currently 81.55%.

About Abbott Laboratories

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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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.

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