Abbott Laboratories $ABT Stock Position Increased by Parcion Private Wealth LLC

Parcion Private Wealth LLC grew its holdings in Abbott Laboratories (NYSE:ABT) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,627 shares of the healthcare product maker’s stock after acquiring an additional 6,003 shares during the period. Parcion Private Wealth LLC’s holdings in Abbott Laboratories were worth $7,375,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ABT. Bank of America Corp DE purchased a new position in shares of Abbott Laboratories during the second quarter worth $1,603,607,000. Legal & General Group Plc acquired a new stake in Abbott Laboratories during the 2nd quarter worth about $1,082,524,000. Flossbach Von Storch SE purchased a new position in shares of Abbott Laboratories during the 2nd quarter valued at about $902,938,000. Jupiter Topco LLC purchased a new position in shares of Abbott Laboratories during the 2nd quarter valued at about $732,788,000. Finally, BlackRock Inc. lifted its holdings in shares of Abbott Laboratories by 4.6% in the 2nd quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock valued at $13,843,610,000 after buying an additional 6,769,518 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Price Performance

NYSE:ABT opened at $106.33 on Friday. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $132.02. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $183.99 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 1.83 and a beta of 0.59. The stock’s 50-day moving average price is $104.36 and its 200-day moving average price is $102.06.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share for the quarter, meeting the consensus estimate of $1.42. The firm had revenue of $13.01 billion during the quarter, compared to analyst estimates of $12.99 billion. Abbott Laboratories had a return on equity of 17.97% and a net margin of 9.75%. Abbott Laboratories’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 EPS. As a group, equities analysts expect that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be given a $0.63 dividend. The ex-dividend date is Thursday, October 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. Abbott Laboratories’s payout ratio is 94.03%.

Analysts Set New Price Targets

A number of analysts have recently commented on ABT shares. JPMorgan Chase & Co. lowered their target price on Abbott Laboratories from $120.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. Barclays initiated coverage on Abbott Laboratories in a research report on Wednesday, October 7th. They set an “overweight” rating and a $120.00 price target for the company. TD Cowen decreased their price target on Abbott Laboratories from $135.00 to $118.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. UBS Group lowered their price objective on Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Finally, Argus cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.32.

Key Headlines Impacting Abbott Laboratories

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

• Positive Sentiment: Abbott began the pivotal CROWN-MV trial for its investigational Cephea Mitral Valve System, designed as a minimally invasive treatment for symptomatic mitral valve disease patients who are ineligible for surgery or transcatheter repair. Successful development could expand Abbott’s structural-heart portfolio, although the device remains investigational and carries clinical and regulatory risk. Abbott initiates pivotal trial for Cephea device
• Positive Sentiment: Industry reports forecast strong expansion in point-of-care diagnostics across South and Central America and continued growth in home INR monitoring. Abbott is listed among the key suppliers, suggesting potential long-term opportunities for its diagnostics business through testing volume, instruments and recurring consumables. South and Central America point-of-care diagnostics market Point-of-care INR testing market
• Neutral Sentiment: Discussion of Abbott’s approaching breakup highlights the potential for value creation through separating businesses, but also raises questions about execution, valuation and how costs and growth prospects will be allocated among the resulting companies. Can Abbott Laboratories Stay Reasonable As Its Breakup Nears?
• Negative Sentiment: Dexcom exceeded expectations and raised guidance, underscoring robust demand for continuous glucose-monitoring wearables but also intensifying competitive pressure on Abbott’s FreeStyle Libre franchise. Stronger execution by Dexcom could weigh on expectations for Abbott’s diabetes-care growth. Dexcom shakes off Abbott-tied malaise
• Negative Sentiment: Argus downgraded Abbott Laboratories, adding a near-term valuation and analyst-sentiment headwind. Abbott Laboratories stock gets downgrade from Argus

Abbott Laboratories Company Profile

Abbott Laboratories is a global healthcare company that develops, manufactures and markets a broad range of medical products and services. Founded in 1888 by Wallace C. Abbott, the company is headquartered in Abbott Park, Illinois, and serves patients, healthcare providers and consumers in markets around the world.

Abbott operates across four principal businesses: medical devices, diagnostics, nutrition and established pharmaceutical products. Its offerings include glucose-monitoring systems such as FreeStyle Libre; cardiovascular devices, including stents and structural heart products; laboratory and point-of-care diagnostic systems; and branded generic medicines in areas such as gastroenterology, women’s health and cardiometabolic care.

The company’s nutrition portfolio includes infant and pediatric products such as Similac and PediaSure, adult nutritional products such as Ensure, and rehydration products such as Pedialyte.