Westpac Banking Corp Invests $1.09 Million in Abbott Laboratories $ABT

Westpac Banking Corp purchased a new stake in Abbott Laboratories (NYSE:ABT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,026 shares of the healthcare product maker’s stock, valued at approximately $1,091,000.

Other large investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in Abbott Laboratories in the 4th quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at about $25,000. Purpose Unlimited Inc. bought a new stake in Abbott Laboratories during the fourth quarter worth about $25,000. Portfolio Resources Advisor Group Inc. acquired a new stake in Abbott Laboratories during the fourth quarter worth about $26,000. Finally, Abound Financial LLC bought a new position in Abbott Laboratories in the 4th quarter valued at about $26,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Bank of America cut their target price on Abbott Laboratories from $120.00 to $102.00 in a research note on Friday, June 12th. TD Cowen boosted their price target on Abbott Laboratories from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. raised their price objective on Abbott Laboratories from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Wells Fargo & Company boosted their target price on Abbott Laboratories from $109.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Finally, Wolfe Research upgraded shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price target on the stock in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.50.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $110.48 on Tuesday. The company 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 current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $103.06 and a two-hundred day moving average price of $100.13. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $137.49.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data 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. 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 the consensus estimate of $12.52 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The firm’s 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. Analysts expect that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Wednesday, July 15th were paid a $0.63 dividend. 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 payout ratio is currently 81.55%.

Abbott Laboratories Company 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.