Eastern Bank Sells 271,872 Shares of Abbott Laboratories $ABT

Eastern Bank trimmed its holdings in Abbott Laboratories (NYSE:ABT) by 80.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,831 shares of the healthcare product maker’s stock after selling 271,872 shares during the quarter. Eastern Bank’s holdings in Abbott Laboratories were worth $5,974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ABT. Vanguard Group Inc. raised its stake in Abbott Laboratories by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 175,556,716 shares of the healthcare product maker’s stock valued at $21,995,501,000 after purchasing an additional 2,402,408 shares during the last quarter. State Street Corp grew its position in Abbott Laboratories by 2.1% in the 4th quarter. State Street Corp now owns 79,853,782 shares of the healthcare product maker’s stock worth $10,004,880,000 after purchasing an additional 1,627,791 shares during the last quarter. Capital International Investors increased its holdings in shares of Abbott Laboratories by 2.6% during the 4th quarter. Capital International Investors now owns 63,229,445 shares of the healthcare product maker’s stock worth $7,922,519,000 after purchasing an additional 1,614,706 shares during the period. J. Stern & Co. LLP raised its position in shares of Abbott Laboratories by 12,439.6% during the fourth quarter. J. Stern & Co. LLP now owns 39,319,009 shares of the healthcare product maker’s stock valued at $4,926,279,000 after buying an additional 39,005,451 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of Abbott Laboratories by 1.0% in the fourth quarter. Capital Research Global Investors now owns 39,169,239 shares of the healthcare product maker’s stock valued at $4,907,523,000 after buying an additional 400,400 shares during the period. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Daiwa Securities Group downgraded Abbott Laboratories from an “outperform” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research report on Wednesday, April 22nd. Raymond James Financial reduced their price objective on Abbott Laboratories from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Citigroup lifted their price objective on Abbott Laboratories from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Bank of America cut their target price on Abbott Laboratories from $120.00 to $102.00 in a research note on Friday, June 12th. Finally, JPMorgan Chase & Co. raised their target price on Abbott Laboratories from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.17.

Abbott Laboratories Trading Up 1.4%

ABT stock opened at $107.16 on Tuesday. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $137.49. The firm has a market cap of $185.43 billion, a P/E ratio of 34.68, a P/E/G ratio of 2.05 and a beta of 0.59. The business’s 50 day moving average is $93.84 and its 200-day moving average is $100.33. 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 posted its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 EPS for the quarter, topping the consensus estimate of $1.28 by $0.03. The business had revenue of $12.59 billion during the quarter, compared to the consensus estimate of $12.52 billion. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%.Abbott Laboratories’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company earned $1.26 EPS. Abbott Laboratories has set its Q3 2026 guidance at 1.380-1.46 EPS and its FY 2026 guidance at 5.450-5.60 EPS. Equities analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, July 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 presently 81.55%.

Abbott Laboratories Company 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.