B. Riley Wealth Advisors Inc. lowered its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 27.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,023 shares of the healthcare product maker’s stock after selling 4,807 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Abbott Laboratories were worth $1,744,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ABT. Carr Financial Group Corp boosted its position in Abbott Laboratories by 2.0% during the 3rd quarter. Carr Financial Group Corp now owns 3,880 shares of the healthcare product maker’s stock valued at $520,000 after acquiring an additional 76 shares in the last quarter. Tortoise Investment Management LLC lifted its stake in shares of Abbott Laboratories by 10.7% during the 2nd quarter. Tortoise Investment Management LLC now owns 795 shares of the healthcare product maker’s stock worth $108,000 after purchasing an additional 77 shares during the last quarter. Gemmer Asset Management LLC boosted its position in Abbott Laboratories by 2.9% during the third quarter. Gemmer Asset Management LLC now owns 2,750 shares of the healthcare product maker’s stock valued at $368,000 after purchasing an additional 78 shares in the last quarter. Bridgewater Advisors Inc. grew its stake in Abbott Laboratories by 0.6% in the second quarter. Bridgewater Advisors Inc. now owns 12,555 shares of the healthcare product maker’s stock valued at $1,607,000 after purchasing an additional 79 shares during the last quarter. Finally, Global Financial Private Client LLC raised its holdings in Abbott Laboratories by 3.3% in the third quarter. Global Financial Private Client LLC now owns 2,469 shares of the healthcare product maker’s stock worth $331,000 after purchasing an additional 79 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.
Abbott Laboratories Price Performance
NYSE ABT opened at $108.79 on Tuesday. The company has a market cap of $189.18 billion, a price-to-earnings ratio of 29.25, a PEG ratio of 1.78 and a beta of 0.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.24. The stock’s fifty day moving average price is $124.34 and its 200 day moving average price is $128.12. Abbott Laboratories has a 1 year low of $105.78 and a 1 year high of $141.23.
Abbott Laboratories Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Thursday, January 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, January 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.3%. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.59. Abbott Laboratories’s payout ratio is 67.74%.
Trending Headlines about Abbott Laboratories
Here are the key news stories impacting Abbott Laboratories this week:
- Positive Sentiment: Abbott’s chairman, Robert B. Ford, bought $2 million of ABT stock — an insider buy that signals management confidence. Chairman Buys $2M in ABT
- Positive Sentiment: Evercore ISI reiterated an Outperform rating and said Abbott’s core growth drivers remain intact despite trimming its price target to $138 — supportive analyst view even after the quarter. Evercore: Core Growth Drivers Intact
- Positive Sentiment: Market momentum: Abbott snapped six straight sessions of losses, which can attract short‑covering and momentum buyers. ABT Snaps Losing Streak
- Positive Sentiment: Bullish analysis: At least one analyst piece highlights double‑digit earnings growth potential, reinforcing longer‑term upside narratives. Double‑Digit Earnings Growth Thesis
- Neutral Sentiment: Stock is a trending/searched ticker on retail platforms, drawing attention from momentum traders and retail buyers. Zacks: Trending Stock
- Neutral Sentiment: Commentary pieces ask whether January’s pullback is a buying opportunity, keeping ABT in retail and advisor conversations. Is the Pullback a Buy?
- Neutral Sentiment: Roundups of hedge‑fund and insider activity mention ABT among other names — informational but not clearly directional. Hedge Fund & Insider News
- Negative Sentiment: Multiple sell‑side firms trimmed price targets or issued cautious/pessimistic forecasts after the quarter (reduced revenue vs. expectations and cautious guidance). Notable items include cuts/negative notes from Royal Bank of Canada, Citigroup, Goldman Sachs, Sanford C. Bernstein and others — a headwind for near‑term sentiment. RBC Lowers PT to $135 Citigroup Pessimistic Forecast Goldman Sachs Negative Note
Analysts Set New Price Targets
A number of research firms have recently weighed in on ABT. Wells Fargo & Company raised their price target on shares of Abbott Laboratories from $142.00 to $146.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Jefferies Financial Group raised their target price on shares of Abbott Laboratories from $145.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Citigroup reduced their price target on Abbott Laboratories from $155.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday. William Blair raised Abbott Laboratories to a “strong-buy” rating in a research report on Thursday, November 20th. Finally, Piper Sandler reduced their target price on Abbott Laboratories from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.79.
Check Out Our Latest Stock Analysis on ABT
Abbott Laboratories 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.
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