Vanguard Group Inc. has enhanced its investment in Abbott Laboratories (NYSE: ABT) by 0.2% during the third quarter of 2023, according to Holdings Channel.com. The investment firm now holds a total of 173,154,308 shares in the healthcare product manufacturer after acquiring an additional 353,457 shares in that period. As of its latest filing with the U.S. Securities and Exchange Commission (SEC), Vanguard’s total ownership represents approximately $23.19 billion in Abbott stock.
Several other institutional investors have also adjusted their positions in Abbott Laboratories. Notably, IMG Wealth Management Inc. increased its stake by an impressive 759.1% in the second quarter, now owning 189 shares valued at approximately $26,000 after acquiring an additional 167 shares. Similarly, Cloud Capital Management LLC initiated a new stake in Abbott worth around $29,000, while Guerra Advisors Inc. and Anfield Capital Management LLC made new investments valued at approximately $31,000 and $32,000, respectively.
Institutional investors and hedge funds currently hold 75.18% of Abbott Laboratories’ stock.
Insider Transactions and Stock Performance
In a separate development, Abbott Laboratories’ Director, Daniel J. Starks, purchased 10,000 shares on February 4, 2024, at an average price of $108.73 per share, totaling approximately $1.09 million. Following this transaction, Starks owns 6,738,817 shares worth about $732.71 million, representing a 0.15% increase in his ownership stake. This transaction was disclosed in a document filed with the SEC.
As of Monday, Abbott Laboratories shares opened at $112.63. The company boasts a market capitalization of $195.84 billion with a price-to-earnings (P/E) ratio of 30.28. Its shares have fluctuated between a low of $105.27 and a high of $141.23 over the past year.
Abbott’s financial performance has shown resilience, with a reported $1.50 earnings per share (EPS) for the fourth quarter of 2023, meeting analysts’ expectations. The company achieved a revenue of $11.46 billion, slightly below the consensus estimate of $11.80 billion. This performance signifies a 4.4% increase in quarterly revenue compared to the same period last year.
Dividend Increase and Future Projections
Recently, Abbott Laboratories announced a quarterly dividend of $0.63, distributed to shareholders on February 13, 2024. This marks an increase from the previous dividend of $0.59, resulting in an annualized dividend of $2.52 and a yield of 2.2%. The dividend payout ratio stands at 67.74%.
Looking ahead, Abbott Laboratories has provided its earnings guidance for the first quarter of 2026, estimating an EPS between $1.120 and $1.180, with full-year guidance set at $5.550 to $5.800 EPS. Analysts anticipate an average EPS of $5.14 for the current year.
Abbott Laboratories, headquartered in Abbott Park, Illinois, is a global healthcare company that develops, manufactures, and markets a wide range of medical products and services. Founded in 1888, the company operates across various sectors, including diagnostics, medical devices, nutritionals, and established pharmaceuticals. Its products are utilized in hospitals, clinics, and laboratories worldwide, underscoring its significant role in healthcare innovation and management.
