Griffin Asset Management Inc. Boosts Stake in Abbott Laboratories $ABT

Griffin Asset Management Inc. grew its position in shares of Abbott Laboratories (NYSE:ABT) by 8.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 70,945 shares of the healthcare product maker’s stock after purchasing an additional 5,503 shares during the quarter. Griffin Asset Management Inc.’s holdings in Abbott Laboratories were worth $6,438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABT. MidAtlantic Capital Management Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $25,000. Purpose Unlimited Inc. purchased a new stake in shares of Abbott Laboratories during the fourth quarter valued at approximately $25,000. Portfolio Resources Advisor Group Inc. purchased a new stake in Abbott Laboratories during the 4th quarter worth $26,000. Finally, Abound Financial LLC acquired a new position in shares of Abbott Laboratories in the fourth quarter worth about $26,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. BTIG Research upped their price objective on Abbott Laboratories from $131.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Citigroup increased their target price on Abbott Laboratories from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $130.00 price target on shares of Abbott Laboratories in a report on Friday, July 17th. Finally, Wolfe Research raised Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price target on the stock in a research report on Thursday, August 13th. Three 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $118.67.

Key Abbott Laboratories News

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

• Positive Sentiment: Abbott’s Instinct continuous glucose sensor is now commercially shipping in the U.S. integrated with MiniMed’s Flex automated insulin-delivery system. The partnership expands Abbott’s presence in diabetes technology and could support sensor adoption and recurring revenue. MiniMed Ships MiniMed Flex With Abbott’s Smallest Instinct Sensor
• Positive Sentiment: Abbott also entered a multiyear agreement with HealthTab to distribute its Afinion 2 point-of-care analyzers through NHS-linked pharmacies in the United Kingdom. The deal may broaden access to Abbott’s HbA1c and lipid-testing products, although financial details were not disclosed. HealthTab Enters Multi-Year Collaboration Agreement with Abbott
• Neutral Sentiment: Abbott agreed to pay approximately $670 million to resolve the Gill case and claims from roughly 2,000 individuals involving specialty formulas for premature infants. The settlement resolves a portion of the litigation, including the appeal of a prior $495 million verdict, reducing uncertainty and potentially avoiding additional legal costs. Abbott denied that its products cause necrotizing enterocolitis and said regulators and medical professionals consider the formulas safe and necessary. Abbott agrees to $670 million settlement of infant formula cases
• Negative Sentiment: The settlement represents a significant cash and earnings cost and does not resolve all potential litigation related to the infant formulas. Investors may continue to assess the scope of remaining claims and the effect on Abbott’s legal reserves and profitability. Abbott reaches agreements to resolve a portion of litigation involving its specialty formulas

Abbott Laboratories Trading Up 2.2%

Abbott Laboratories stock opened at $116.62 on Friday. The firm has a market cap of $201.80 billion, a price-to-earnings ratio of 37.74, a price-to-earnings-growth ratio of 2.21 and a beta of 0.59. Abbott Laboratories has a 1 year low of $81.97 and a 1 year high of $137.49. The firm’s 50 day moving average price is $100.08 and its two-hundred day moving average price is $100.05. 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) last released its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.03. The business had revenue of $12.59 billion for the quarter, compared to the consensus estimate of $12.52 billion. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm 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, research analysts predict that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, July 15th. Abbott Laboratories’s payout ratio 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.