Abbott Laboratories $ABT Holdings Raised by Hollow Brook Wealth Management LLC

Hollow Brook Wealth Management LLC increased its stake in shares of Abbott Laboratories (NYSE:ABT) by 15.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,229 shares of the healthcare product maker’s stock after buying an additional 6,982 shares during the quarter. Abbott Laboratories comprises 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 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Traynor Capital Management Inc. increased its holdings in Abbott Laboratories by 62.4% in the 3rd quarter. Traynor Capital Management Inc. now owns 4,429 shares of the healthcare product maker’s stock valued at $438,000 after buying an additional 1,702 shares during the period. Pinkerton Wealth LLC lifted its holdings in shares of Abbott Laboratories by 29.9% during the 3rd quarter. Pinkerton Wealth LLC now owns 58,548 shares of the healthcare product maker’s stock worth $5,786,000 after acquiring an additional 13,473 shares during the period. Columbia Bank lifted its holdings in shares of Abbott Laboratories by 14.9% during the 3rd quarter. Columbia Bank now owns 16,670 shares of the healthcare product maker’s stock worth $1,647,000 after acquiring an additional 2,168 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Abbott Laboratories during the 3rd quarter worth approximately $189,841,000. Finally, Aviance Capital Partners LLC boosted its position in shares of Abbott Laboratories by 3.0% during the 3rd quarter. Aviance Capital Partners LLC now owns 26,070 shares of the healthcare product maker’s stock worth $2,576,000 after acquiring an additional 753 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler restated an “overweight” rating and set a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. Robert W. Baird raised their target price on Abbott Laboratories from $121.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Wells Fargo & Company lifted their price target on Abbott Laboratories from $112.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Rothschild & Co Redburn raised Abbott Laboratories from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $119.00 to $127.00 in a report on Friday, October 2nd. Finally, Royal Bank Of Canada dropped their price objective on Abbott Laboratories from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, October 22nd. Two research 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.32.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $106.33 on Monday. The stock has a market cap of $183.99 billion, a P/E ratio of 39.68, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. 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’s 50-day moving average is $104.36 and its 200-day moving average is $102.06. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $132.02.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 21st. The healthcare product maker reported $1.42 earnings per share (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 last year, the business earned $1.30 EPS. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. Equities research analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Announces Dividend

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

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.