Shares of Abbott Laboratories (NYSE: ABT) experienced a significant decline prior to the market opening on Thursday, October 14, 2023. The stock, which closed at $120.73, opened sharply lower at $107.53 and was last seen trading at $112.14, with a trading volume of 14,253,793 shares.
Analysts Adjust Price Targets for Abbott Laboratories
Recent commentary from equity research analysts has added to the volatility surrounding Abbott Laboratories. On October 14, Mizuho raised its price target from $135.00 to $140.00, maintaining a “neutral” rating. Just days earlier, on October 10, Benchmark initiated coverage on Abbott, assigning a “buy” rating with a price target of $145.00. Conversely, Oppenheimer adjusted its price target downward from $140.00 to $132.00 while keeping an “outperform” rating.
Jefferies Financial Group also increased its target, moving it from $145.00 to $149.00, and reaffirmed a “buy” rating. Barclays set an even higher target of $169.00, up from $162.00, and rated the stock as “overweight.” Overall, two analysts have issued a “Strong Buy” rating, while seventeen others have rated it as a “Buy” and three as a “Hold.” According to data from MarketBeat.com, Abbott Laboratories currently holds a consensus rating of “Moderate Buy” with an average price target of $140.79.
Financial Performance and Dividend Announcement
In its latest earnings report on January 22, 2023, Abbott Laboratories reported earnings per share (EPS) of $1.50, aligning with analysts’ expectations. The company posted revenue of $11.46 billion for the quarter, falling slightly short of the projected $11.80 billion. The firm recorded a net margin of 14.72% and a return on equity of 17.94%, with quarterly revenue up by 4.4% compared to the same period last year.
Looking ahead, Abbott Laboratories has set guidance for the first quarter of 2026 at an EPS between $1.120 and $1.180, and a full-year guidance between $5.550 and $5.800 EPS. Analysts forecast the company will achieve an EPS of $5.14 for the current fiscal year.
Additionally, Abbott Laboratories announced an increase in its quarterly dividend, now set at $0.63 per share, to be paid on February 13, 2026. This marks an increase from its previous quarterly dividend of $0.59, yielding an annualized dividend of $2.52 and a yield of 2.3%. The ex-dividend date is January 15, 2026, and the company currently has a dividend payout ratio of 67.74%.
Recent trends in institutional trading indicate that several hedge funds have recently adjusted their positions in Abbott Laboratories. IMG Wealth Management Inc. increased its stake by 759.1% in the second quarter, now holding 189 shares valued at approximately $26,000. Other notable investors include Harbor Capital Advisors Inc., which acquired shares valued at $27,000, and Cloud Capital Management LLC, which purchased a new position valued at $29,000. Overall, institutional investors control 75.18% of Abbott Laboratories’ stock.
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 firm operates across multiple sectors, including diagnostics, medical devices, nutritionals, and established pharmaceuticals, supplying hospitals, clinics, and direct-to-consumer channels with essential healthcare solutions.
