Provident Investment Management Inc. Trims Stock Position in Abbott Laboratories $ABT

Provident Investment Management Inc. decreased its position in Abbott Laboratories (NYSE:ABT) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,266 shares of the healthcare product maker’s stock after selling 7,756 shares during the period. Abbott Laboratories accounts for approximately 3.1% of Provident Investment Management Inc.’s investment portfolio, making the stock its 16th largest position. Provident Investment Management Inc.’s holdings in Abbott Laboratories were worth $34,363,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. PFA Pension Forsikringsaktieselskab purchased a new position in Abbott Laboratories during the fourth quarter worth about $116,580,000. Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of Abbott Laboratories in the 3rd quarter valued at approximately $185,640,000. Nordea Investment Management AB lifted its holdings in shares of Abbott Laboratories by 6.1% in the 3rd quarter. Nordea Investment Management AB now owns 329,430 shares of the healthcare product maker’s stock worth $43,785,000 after acquiring an additional 18,974 shares during the last quarter. AE Wealth Management LLC boosted its position in shares of Abbott Laboratories by 20.8% during the 3rd quarter. AE Wealth Management LLC now owns 65,504 shares of the healthcare product maker’s stock worth $8,774,000 after purchasing an additional 11,264 shares during the period. Finally, Mawer Investment Management Ltd. increased its holdings in Abbott Laboratories by 5.9% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,255,780 shares of the healthcare product maker’s stock valued at $168,199,000 after purchasing an additional 70,122 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 2.1%

ABT stock opened at $82.58 on Tuesday. The company’s 50 day moving average price is $101.41 and its 200 day moving average price is $114.46. The firm has a market capitalization of $143.84 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.41 and a beta of 0.65. Abbott Laboratories has a fifty-two week low of $81.97 and a fifty-two week high of $139.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.39.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.01. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The company had revenue of $11.16 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Abbott Laboratories has set its FY 2026 guidance at 5.380-5.580 EPS and its Q2 2026 guidance at 1.250-1.310 EPS. On average, equities research analysts anticipate that Abbott Laboratories will post 5.48 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Wednesday, April 15th will be paid a dividend of $0.63 per share. The ex-dividend date is Wednesday, April 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. Abbott Laboratories’s payout ratio is presently 70.59%.

Insider Transactions at Abbott Laboratories

In other news, EVP Daniel Gesua Sive Salvadori sold 885 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $115.58, for a total value of $102,288.30. Following the transaction, the executive vice president owned 146,377 shares in the company, valued at approximately $16,918,253.66. This represents a 0.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Eric Shroff sold 709 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $115.58, for a total value of $81,946.22. Following the sale, the senior vice president directly owned 39,164 shares in the company, valued at $4,526,575.12. This trade represents a 1.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,055 shares of company stock valued at $353,097 over the last ninety days. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company decreased their price target on Abbott Laboratories from $122.00 to $109.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Citigroup decreased their target price on Abbott Laboratories from $136.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, April 17th. Weiss Ratings cut Abbott Laboratories from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, April 24th. Mizuho cut their price target on shares of Abbott Laboratories from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Abbott Laboratories from $123.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.43.

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.