Equitable Holdings buys new $6.95M stake in Abbott
What's the deal? Equitable Holdings Inc.Dealroom has a profile for this one. Try Dealroom → purchased a new position in Abbott LaboratoriesDealroom has a profile for this one. Try Dealroom → during the second quarter, according to a filing with the Securities and Exchange Commission. The fund bought 76,578 shares of the healthcare product maker, valued at roughly $6,949,000.
Why now? AbbottDealroom has a profile for this one. Try Dealroom → shares opened at $110.52 on Thursday, near the middle of a 52-week range that runs from $81.97 to $137.49. The stock's 50-day moving average of $103.83 sits above its 200-day average of $100.09, and the company carries a market capitalisation of $191.24 billion.
What's the endgame? Abbott, which makes healthcare and medical products, reported $1.31 earnings per share for its most recent quarter, beating consensus estimates of $1.28. Revenue of $12.59 billion topped analyst expectations of $12.52 billion and rose 13% year over year.
The company guided to full-year 2026 earnings of $5.45 to $5.60 per share and paid a quarterly dividend of $0.63 per share on August 17, a 2.3% annualised yield.
The signal: Equitable joins a broad base of institutional owners, which hold 75.18% of Abbott's stock. Analyst sentiment leans positive: three rate the shares strong buy, 20 buy, and four hold, with recent price targets ranging from $112 to $135.
Read more: tickerreport.com
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