Abbott Laboratories $ABT Stock Acquired by Hollow Brook Wealth Management LLC

Hollow Brook Wealth Management LLC increased its position in shares of Abbott Laboratories (NYSE:ABT) by 15.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,229 shares of the healthcare product maker’s stock after buying an additional 6,982 shares during the period. Abbott Laboratories accounts for approximately 0.9% of Hollow Brook Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest position. Hollow Brook Wealth Management LLC’s holdings in Abbott Laboratories were worth $5,063,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABT. BlackRock Inc. lifted its stake in Abbott Laboratories by 4.6% in the second quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock valued at $13,843,610,000 after acquiring an additional 6,769,518 shares during the last quarter. State Street Corp raised its holdings in shares of Abbott Laboratories by 1.7% in the 2nd quarter. State Street Corp now owns 80,926,234 shares of the healthcare product maker’s stock valued at $7,343,246,000 after purchasing an additional 1,350,766 shares during the period. Bank of America Corp DE bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at about $1,603,607,000. Deutsche Bank AG raised its holdings in shares of Abbott Laboratories by 18.6% in the 2nd quarter. Deutsche Bank AG now owns 16,706,669 shares of the healthcare product maker’s stock valued at $1,515,963,000 after purchasing an additional 2,614,965 shares during the period. Finally, Legal & General Group Plc acquired a new stake in Abbott Laboratories in the 2nd quarter valued at about $1,082,524,000. 75.18% of the stock is owned by institutional investors.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $106.33 on Monday. The stock has a 50 day simple moving average of $104.36 and a 200 day simple moving average of $102.06. The stock has a market cap of $183.99 billion, a P/E ratio of 39.68, a PEG ratio of 1.86 and a beta of 0.54. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $132.02. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57.

Abbott Laboratories (NYSE:ABT) last issued 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. The firm had revenue of $13.01 billion for 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%. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 EPS. Research analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

Abbott Laboratories News Summary

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

Analyst Ratings Changes

ABT has been the subject of a number of research analyst reports. Argus cut Abbott Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, October 27th. Rothschild & Co Redburn upgraded Abbott Laboratories from a “neutral” rating to a “buy” rating and upped their price objective for the company from $119.00 to $127.00 in a research note on Friday, October 2nd. Robert W. Baird raised their price objective on Abbott Laboratories from $121.00 to $123.00 and gave the company an “outperform” rating in a research report on Thursday, October 22nd. Weiss Ratings upgraded Abbott Laboratories from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, September 18th. Finally, Piper Sandler reissued an “overweight” rating and set a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.32.

Abbott Laboratories 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.