First Trust Advisors LP decreased its holdings in Abbott Laboratories (NYSE:ABT – Free Report) by 8.0% in the 1st quarter, Holdings Channel reports. The firm owned 4,179,722 shares of the healthcare product maker’s stock after selling 363,930 shares during the period. First Trust Advisors LP’s holdings in Abbott Laboratories were worth $429,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cornerstone Financial Management LLC acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth about $25,000. MidAtlantic Capital Management Inc. acquired a new position in Abbott Laboratories in the 4th quarter valued at about $25,000. Purpose Unlimited Inc. purchased a new stake in Abbott Laboratories during the 4th quarter valued at approximately $25,000. Portfolio Resources Advisor Group Inc. acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $26,000. Finally, Abound Financial LLC purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at approximately $26,000. 75.18% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on ABT shares. UBS Group dropped their target price on Abbott Laboratories from $158.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Weiss Ratings upgraded shares of Abbott Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 7th. Barclays dropped their price objective on shares of Abbott Laboratories from $144.00 to $143.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Argus cut their price objective on shares of Abbott Laboratories from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Finally, Benchmark lowered their target price on shares of Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, April 17th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.61.
Abbott Laboratories Stock Down 2.0%
ABT opened at $99.67 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.39 and a quick ratio of 1.01. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $137.49. The stock has a market capitalization of $173.61 billion, a P/E ratio of 32.26, a P/E/G ratio of 2.03 and a beta of 0.61. The business has a 50 day simple moving average of $90.58 and a 200-day simple moving average of $101.66.
Abbott Laboratories (NYSE:ABT – Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. The firm had revenue of $12.51 billion for the quarter, compared to analyst estimates of $12.52 billion. Abbott Laboratories had a return on equity of 17.65% and a net margin of 11.65%.Abbott Laboratories’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 earnings per share. 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 5.51 earnings per share for the current fiscal year.
Abbott Laboratories Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.5%. Abbott Laboratories’s dividend payout ratio is 81.55%.
Insider Transactions at Abbott Laboratories
In related news, Director Daniel J. Starks bought 10,000 shares of the stock in a transaction on Monday, April 27th. The shares were bought at an average cost of $92.65 per share, for a total transaction of $926,500.00. Following the completion of the transaction, the director owned 6,751,103 shares of the company’s stock, valued at $625,489,692.95. This represents a 0.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Philip P. Boudreau bought 2,200 shares of the company’s stock in a transaction on Thursday, April 23rd. The stock was bought at an average cost of $91.50 per share, with a total value of $201,300.00. Following the completion of the acquisition, the chief financial officer owned 2,200 shares of the company’s stock, valued at $201,300. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.46% of the company’s stock.
Abbott Laboratories Company 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.
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