Abbott Laboratories $ABT Stock Bought by Pinkerton Wealth LLC

Pinkerton Wealth LLC grew its holdings in Abbott Laboratories (NYSE:ABT) by 29.9% during the third quarter, Holdings Channel.com reports. The firm owned 58,548 shares of the healthcare product maker’s stock after buying an additional 13,473 shares during the period. Pinkerton Wealth LLC’s holdings in Abbott Laboratories were worth $5,786,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Elwood & Goetz Wealth Advisory Group LLC grew its position in Abbott Laboratories by 3.1% during the third quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 3,216 shares of the healthcare product maker’s stock valued at $318,000 after purchasing an additional 97 shares in the last quarter. Parkway Wealth Management Group LLC lifted its position in Abbott Laboratories by 3.2% in the 3rd quarter. Parkway Wealth Management Group LLC now owns 3,208 shares of the healthcare product maker’s stock worth $317,000 after buying an additional 98 shares in the last quarter. St. Johns Investment Management Company LLC boosted its stake in shares of Abbott Laboratories by 1.0% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 9,859 shares of the healthcare product maker’s stock valued at $895,000 after buying an additional 101 shares during the period. AA Financial Advisors LLC boosted its stake in shares of Abbott Laboratories by 1.7% during the 3rd quarter. AA Financial Advisors LLC now owns 6,186 shares of the healthcare product maker’s stock valued at $611,000 after buying an additional 101 shares during the period. Finally, Eagle Bay Advisors LLC grew its holdings in shares of Abbott Laboratories by 1.2% during the 3rd quarter. Eagle Bay Advisors LLC now owns 8,448 shares of the healthcare product maker’s stock valued at $835,000 after acquiring an additional 102 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ABT shares. Robert W. Baird upped their price target on shares of Abbott Laboratories from $121.00 to $123.00 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Weiss Ratings raised Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, September 18th. Wolfe Research raised shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research report on Thursday, August 13th. Piper Sandler reissued an “overweight” rating and set a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. Finally, UBS Group dropped their price target on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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 Stock Performance

NYSE ABT opened at $106.33 on Monday. The company’s fifty day moving average is $104.36 and its two-hundred day moving average is $102.06. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $132.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. The firm has a market capitalization of $183.99 billion, a price-to-earnings ratio of 39.68, a P/E/G ratio of 1.86 and a beta of 0.54.

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

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders 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 dividend payout ratio (DPR) is currently 94.03%.

About Abbott Laboratories

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.