Saudi Central Bank Has $11.06 Million Stock Holdings in Abbott Laboratories $ABT

Saudi Central Bank raised its position in Abbott Laboratories (NYSE:ABT) by 89.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 121,916 shares of the healthcare product maker’s stock after buying an additional 57,732 shares during the quarter. Saudi Central Bank’s holdings in Abbott Laboratories were worth $11,063,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Angeles Wealth Management LLC lifted its position in shares of Abbott Laboratories by 11.0% in the second quarter. Angeles Wealth Management LLC now owns 11,979 shares of the healthcare product maker’s stock worth $1,087,000 after purchasing an additional 1,186 shares in the last quarter. Compass Financial Management LLC bought a new position in Abbott Laboratories in the second quarter valued at $156,000. NBH Bank acquired a new stake in Abbott Laboratories in the 2nd quarter valued at $438,000. Maloon Powers Pitre Higgins & Dennehy LLC bought a new stake in Abbott Laboratories during the 2nd quarter worth about $423,000. Finally, Markowski Investments acquired a new position in shares of Abbott Laboratories during the 2nd quarter worth about $148,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Down 0.0%

ABT stock opened at $108.29 on Monday. Abbott Laboratories has a fifty-two week low of $81.97 and a fifty-two week high of $137.49. 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 stock has a market capitalization of $187.38 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 2.01 and a beta of 0.59. The business’s fifty day moving average price is $104.43 and its two-hundred day moving average price is $100.03.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The company had revenue of $12.59 billion during the quarter, compared to analysts’ expectations of $12.52 billion. During the same quarter in the previous year, the business posted $1.26 earnings per share. Abbott Laboratories’s quarterly revenue was up 13.0% on a year-over-year basis. 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. On average, equities analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Wednesday, July 15th. Abbott Laboratories’s dividend payout ratio is presently 81.55%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ABT. Bank of America lowered their target price on Abbott Laboratories from $120.00 to $102.00 in a research report on Friday, June 12th. The Goldman Sachs Group reduced their price target on Abbott Laboratories from $121.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Piper Sandler restated an “overweight” rating and issued a $118.00 price target (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $130.00 price objective on shares of Abbott Laboratories in a research note on Friday, July 17th. Finally, BTIG Research increased their price objective on Abbott Laboratories from $131.00 to $134.00 and gave the company a “buy” rating in a report on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $119.50.

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.