Cypress Capital Group lowered its position in shares of Abbott Laboratories (NYSE:ABT – Free Report) by 15.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,542 shares of the healthcare product maker’s stock after selling 12,216 shares during the period. Cypress Capital Group’s holdings in Abbott Laboratories were worth $6,729,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in ABT. Cornerstone Financial Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at about $25,000. MidAtlantic Capital Management Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $25,000. Purpose Unlimited Inc. purchased a new position in Abbott Laboratories during the fourth quarter valued at approximately $25,000. Portfolio Resources Advisor Group Inc. purchased a new position in Abbott Laboratories during the fourth quarter valued at approximately $26,000. Finally, Abound Financial LLC bought a new position in Abbott Laboratories in the fourth quarter worth approximately $26,000. 75.18% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ABT has been the topic of several recent research reports. Robert W. Baird assumed coverage on Abbott Laboratories in a research report on Wednesday, July 1st. They set an “outperform” rating and a $121.00 target price on the stock. Benchmark reduced their price target on Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Daiwa Securities Group cut Abbott Laboratories from an “outperform” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research note on Wednesday, April 22nd. Wells Fargo & Company lifted their target price on Abbott Laboratories from $109.00 to $112.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a report on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $118.61.
Insider Activity
In related news, Director Daniel J. Starks acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average cost of $92.65 per share, with a total value of $926,500.00. Following the transaction, the director directly owned 6,751,103 shares of the company’s stock, valued at $625,489,692.95. This trade represents a 0.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by company insiders.
Abbott Laboratories Stock Performance
Shares of ABT stock opened at $103.13 on Friday. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $137.49. The business’s fifty day simple moving average is $91.61 and its 200-day simple moving average is $101.33. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The company has a market cap of $179.63 billion, a PE ratio of 33.38, a PEG ratio of 2.00 and a beta of 0.61.
Abbott Laboratories (NYSE:ABT – Get Free Report) last posted 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. Abbott Laboratories had a return on equity of 17.65% and a net margin of 11.65%.The firm had revenue of $12.51 billion during the quarter, compared to analysts’ expectations of $12.52 billion. During the same quarter last year, the firm earned $1.26 EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis. 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. Analysts expect that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.
Abbott Laboratories Announces Dividend
The firm 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 is Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. Abbott Laboratories’s payout ratio is presently 81.55%.
About Abbott Laboratories
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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