Cannell & Spears LLC Sells 13,770 Shares of Abbott Laboratories $ABT

Cannell & Spears LLC cut its stake in Abbott Laboratories (NYSE:ABT) by 2.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 550,436 shares of the healthcare product maker’s stock after selling 13,770 shares during the quarter. Abbott Laboratories comprises approximately 1.1% of Cannell & Spears LLC’s investment portfolio, making the stock its 24th biggest position. Cannell & Spears LLC’s holdings in Abbott Laboratories were worth $56,345,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ABT. MidAtlantic Capital Management Inc. acquired a new position in Abbott Laboratories in the fourth quarter valued at about $25,000. Cornerstone Financial Management LLC acquired a new stake in Abbott Laboratories during the fourth quarter worth about $25,000. Purpose Unlimited Inc. bought a new position in Abbott Laboratories in the 4th quarter valued at about $25,000. Portfolio Resources Advisor Group Inc. acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at approximately $26,000. Finally, Abound Financial LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $26,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ABT has been the topic of a number of recent analyst reports. Barclays decreased their price objective on shares of Abbott Laboratories from $144.00 to $143.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Robert W. Baird began coverage on Abbott Laboratories in a report on Wednesday, July 1st. They issued an “outperform” rating and a $121.00 target price on the stock. Bank of America lowered their price target on Abbott Laboratories from $120.00 to $102.00 in a report on Friday, June 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Finally, 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 note on Wednesday, April 22nd. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.61.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, Director Daniel J. Starks bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average cost of $92.65 per share, for a total transaction of $926,500.00. Following the transaction, the director directly owned 6,751,103 shares in the company, valued at approximately $625,489,692.95. This represents a 0.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is currently owned by company insiders.

Abbott Laboratories Stock Up 2.4%

Shares of ABT opened at $103.13 on Friday. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $137.49. The stock has a market capitalization of $179.63 billion, a price-to-earnings ratio of 33.38, a PEG ratio of 1.95 and a beta of 0.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.39. The stock has a fifty day moving average of $91.61 and a 200-day moving average of $101.33.

Abbott Laboratories (NYSE:ABT) last issued 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 business had revenue of $12.51 billion for the quarter, compared to analyst estimates of $12.52 billion. During the same quarter in the previous year, the company posted $1.26 EPS. Abbott Laboratories’s quarterly revenue was up 13.0% compared to the same quarter last year. 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. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.51 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, July 15th. Abbott Laboratories’s payout ratio is 81.55%.

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.