Vanguard Group Inc. has expanded its holdings in Abbott Laboratories (NYSE: ABT) by 0.2% during the third quarter of 2023. According to a report from Holdings Channel, Vanguard now owns a total of 173,154,308 shares of the healthcare company, following the acquisition of an additional 353,457 shares during this period. As of its most recent filing with the Securities and Exchange Commission (SEC), Vanguard’s stake in Abbott is valued at approximately $23.19 billion, representing about 0.10% of the company.
Several other institutional investors have also adjusted their positions in Abbott Laboratories. For instance, IMG Wealth Management Inc. significantly increased its stake by 759.1% in the second quarter, bringing its total holdings to 189 shares valued at $26,000. Additionally, Cloud Capital Management LLC acquired a new stake in Abbott worth approximately $29,000 during the third quarter, while Guerra Advisors Inc. purchased shares valued at around $31,000 in the same timeframe.
Anfield Capital Management LLC raised its position in Abbott by 81.3% earlier in the year, now holding 232 shares valued at $32,000. Delos Wealth Advisors LLC also made a new investment in Abbott, valued at approximately $32,000. Collectively, institutional investors and hedge funds own 75.18% of Abbott’s stock.
In another development, Abbott’s Director, Daniel J. Starks, purchased 10,000 shares on February 4 at an average price of $108.73 per share, totaling $1,087,300. Following this transaction, Starks’ ownership increased to 6,738,817 shares, valued at about $732.71 million. This acquisition was disclosed in an SEC filing.
Recent Performance and Dividend Increase
Abbott Laboratories opened at $112.63 on Monday, with a market capitalization of $195.84 billion. The company reported a price-to-earnings (P/E) ratio of 30.28 and a beta of 0.75. Over the past year, Abbott’s stock has fluctuated, reaching a low of $105.27 and a high of $141.23. The firm has a 50-day simple moving average of $119.48 and a 200-day average of $126.39.
Abbott Laboratories recently announced its earnings results for the quarter ending January 22, 2024, reporting earnings per share (EPS) of $1.50, which met analysts’ expectations. The company generated revenue of $11.46 billion, slightly below the consensus estimate of $11.80 billion. Abbott’s return on equity stood at 17.94%, and its net margin was 14.72%. The latest quarterly revenue reflects a 4.4% increase compared to the same quarter last year.
Looking forward, Abbott Laboratories has provided guidance for the first quarter of 2026, projecting EPS between $1.120 and $1.180, with full-year guidance set between $5.550 and $5.800. Analysts predict an average EPS of $5.14 for the current fiscal year.
In addition to its financial performance, Abbott recently increased its quarterly dividend to $0.63, up from $0.59. This dividend was paid to shareholders on February 13, with a record date of January 15. The annualized dividend now stands at $2.52, yielding approximately 2.2%. Abbott’s dividend payout ratio is 67.74%.
About Abbott Laboratories
Founded in 1888 and headquartered in Abbott Park, Illinois, Abbott Laboratories is a global healthcare company that develops, manufactures, and markets a diverse range of medical products and services. The company operates across various sectors, including diagnostics, medical devices, nutritionals, and established pharmaceuticals. Abbott supplies products to hospitals, clinics, laboratories, and direct-to-consumer channels, focusing on diagnosing, treating, and managing a wide array of health conditions. Its diagnostics division offers laboratory and point-of-care testing platforms, including the Alinity family of instruments designed to detect infectious diseases and chronic conditions.
