Bleakley Financial Group LLC Decreases Stake in Abbott Laboratories $ABT

Bleakley Financial Group LLC cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 12.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 85,711 shares of the healthcare product maker’s stock after selling 11,995 shares during the period. Bleakley Financial Group LLC’s holdings in Abbott Laboratories were worth $8,800,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. J. Stern & Co. LLP grew its holdings in Abbott Laboratories by 12,439.6% during the 4th quarter. J. Stern & Co. LLP now owns 39,319,009 shares of the healthcare product maker’s stock worth $4,926,279,000 after acquiring an additional 39,005,451 shares in the last quarter. Norges Bank acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $2,938,892,000. Assenagon Asset Management S.A. lifted its position in shares of Abbott Laboratories by 303.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,429,571 shares of the healthcare product maker’s stock worth $454,784,000 after purchasing an additional 3,330,368 shares during the last quarter. Ninety One UK Ltd acquired a new position in shares of Abbott Laboratories during the fourth quarter worth $336,815,000. Finally, Vanguard Group Inc. grew its stake in shares of Abbott Laboratories by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 175,556,716 shares of the healthcare product maker’s stock worth $21,995,501,000 after purchasing an additional 2,402,408 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 2.0%

Shares of NYSE ABT opened at $92.01 on Tuesday. The business has a 50-day moving average price of $89.23 and a 200 day moving average price of $102.86. The stock has a market cap of $160.27 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.56. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $137.49.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 EPS for the quarter, topping the consensus estimate of $1.14 by $0.01. The company had revenue of $11.16 billion for the quarter, compared to analyst estimates of $10.99 billion. Abbott Laboratories had a return on equity of 17.62% and a net margin of 13.90%.The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. 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. Equities research analysts forecast that Abbott Laboratories will post 5.48 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Wednesday, July 15th will be given a $0.63 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $2.52 annualized dividend and a yield of 2.7%. Abbott Laboratories’s dividend payout ratio is 70.59%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Sanford C. Bernstein cut their price target on Abbott Laboratories from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. TD Cowen dropped their price objective on Abbott Laboratories from $137.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, April 17th. 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 decreased their target price on Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, April 17th. Finally, Evercore lowered their price target on Abbott Laboratories from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, April 17th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.42.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Daniel J. Starks purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average price of $92.65 per share, for a total transaction of $926,500.00. Following the purchase, the director directly owned 6,751,103 shares in the company, valued at approximately $625,489,692.95. This trade represents a 0.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Philip P. Boudreau acquired 2,200 shares of the stock in a transaction on Thursday, April 23rd. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $201,300.00. Following the completion of the transaction, the chief financial officer directly owned 2,200 shares in the company, valued at $201,300. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.46% of the stock is owned by corporate insiders.

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.