Kornitzer Capital Management Inc. KS Sells 7,518 Shares of Abbott Laboratories $ABT

Kornitzer Capital Management Inc. KS decreased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 2.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 369,760 shares of the healthcare product maker’s stock after selling 7,518 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Abbott Laboratories were worth $37,963,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DMC Group LLC lifted its position in Abbott Laboratories by 4.7% during the 1st quarter. DMC Group LLC now owns 3,033 shares of the healthcare product maker’s stock worth $311,000 after buying an additional 136 shares in the last quarter. GreatBanc Trust CO grew its holdings in shares of Abbott Laboratories by 3.4% in the 1st quarter. GreatBanc Trust CO now owns 3,790 shares of the healthcare product maker’s stock valued at $389,000 after acquiring an additional 125 shares in the last quarter. Meadow Creek Wealth Advisors LLC increased its position in shares of Abbott Laboratories by 12.8% in the first quarter. Meadow Creek Wealth Advisors LLC now owns 4,141 shares of the healthcare product maker’s stock valued at $425,000 after acquiring an additional 471 shares during the last quarter. Peterson Wealth Services raised its holdings in Abbott Laboratories by 22.8% during the first quarter. Peterson Wealth Services now owns 2,023 shares of the healthcare product maker’s stock worth $208,000 after acquiring an additional 376 shares in the last quarter. Finally, Griffin Asset Management Inc. boosted its position in Abbott Laboratories by 10.1% during the first quarter. Griffin Asset Management Inc. now owns 65,442 shares of the healthcare product maker’s stock valued at $6,719,000 after purchasing an additional 6,023 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price target on Abbott Laboratories from $123.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Piper Sandler reissued an “overweight” rating and issued a $115.00 price objective on shares of Abbott Laboratories in a report on Monday, June 22nd. Stifel Nicolaus decreased their target price on shares of Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, April 17th. Leerink Partners dropped their price target on shares of Abbott Laboratories from $119.00 to $106.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada cut their price target on shares of Abbott Laboratories from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $118.42.

Abbott Laboratories Stock Performance

Shares of ABT traded down $0.42 during mid-day trading on Friday, reaching $93.97. The company’s stock had a trading volume of 6,911,805 shares, compared to its average volume of 12,569,929. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $137.49. The business has a 50-day simple moving average of $89.21 and a two-hundred day simple moving average of $103.24. The stock has a market cap of $163.69 billion, a P/E ratio of 26.32, a PEG ratio of 1.63 and a beta of 0.61.

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

Abbott Laboratories Dividend Announcement

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

Insider Transactions at Abbott Laboratories

In related news, Director Daniel J. Starks purchased 10,000 shares of the stock in a transaction on Monday, April 27th. The shares were purchased at an average cost of $92.65 per share, with a total value of $926,500.00. Following the acquisition, the director directly owned 6,751,103 shares in the company, valued at $625,489,692.95. The trade was a 0.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Philip P. Boudreau acquired 2,200 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were bought at an average price of $91.50 per share, with a total value of $201,300.00. Following the completion of the transaction, the chief financial officer directly owned 2,200 shares of the company’s stock, valued at approximately $201,300. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.46% of the company’s stock.

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.