PNC Financial Services Group Inc. Purchases 83,377 Shares of Abbott Laboratories $ABT

PNC Financial Services Group Inc. increased its holdings in shares of Abbott Laboratories (NYSE:ABT) by 1.8% during the fourth quarter, Holdings Channel reports. The fund owned 4,663,821 shares of the healthcare product maker’s stock after acquiring an additional 83,377 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Abbott Laboratories were worth $584,330,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in Abbott Laboratories during the 4th quarter worth $27,000. Cloud Capital Management LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at approximately $29,000. Guerra Advisors Inc acquired a new position in Abbott Laboratories during the third quarter valued at approximately $31,000. Bridge Generations Wealth Management LLC bought a new stake in shares of Abbott Laboratories during the 3rd quarter worth $33,000. Finally, Copia Wealth Management bought a new position in shares of Abbott Laboratories in the third quarter worth about $38,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

NYSE ABT opened at $88.81 on Wednesday. The firm has a market cap of $154.70 billion, a P/E ratio of 24.88, a price-to-earnings-growth ratio of 1.47 and a beta of 0.65. The company’s 50 day moving average is $98.14 and its 200-day moving average is $112.73. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $139.06. 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 (NYSE:ABT) last announced 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. The firm had revenue of $11.16 billion for the quarter, compared to the consensus estimate of $10.99 billion. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm 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. Sell-side analysts predict that Abbott Laboratories will post 5.48 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th were paid a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.8%. Abbott Laboratories’s dividend payout ratio is 70.59%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Daiwa Securities Group downgraded Abbott Laboratories from an “outperform” rating to a “neutral” rating and set a $92.00 target price for the company. in a research report on Wednesday, April 22nd. 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 report on Friday, April 17th. Evercore reduced their price objective on shares of Abbott Laboratories from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Wells Fargo & Company reduced their target price on Abbott Laboratories from $122.00 to $109.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Finally, TD Cowen reduced their price target on shares of Abbott Laboratories from $137.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Two 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.43.

Insider Activity

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

Abbott Laboratories 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.