Abbott Laboratories $ABT Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 15.7% in the 1st quarter, HoldingsChannel reports. The firm owned 50,384 shares of the healthcare product maker’s stock after selling 9,363 shares during the period. NewEdge Wealth LLC’s holdings in Abbott Laboratories were worth $5,173,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new position in Abbott Laboratories during the fourth quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new position in shares of Abbott Laboratories in the 4th quarter valued at $25,000. Purpose Unlimited Inc. purchased a new stake in Abbott Laboratories in the 4th quarter valued at $25,000. Portfolio Resources Advisor Group Inc. purchased a new stake in Abbott Laboratories in the 4th quarter valued at $26,000. Finally, Abound Financial LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth $26,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Insiders Place Their Bets

In other Abbott Laboratories news, Director Daniel J. Starks bought 10,000 shares of the company’s stock in a transaction on Monday, April 27th. The stock was purchased at an average cost of $92.65 per share, for a total transaction of $926,500.00. Following the acquisition, the director owned 6,751,103 shares of the company’s stock, valued at $625,489,692.95. The trade was a 0.15% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

ABT has been the subject of a number of research reports. Benchmark reduced their target price on shares of Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a report on Friday, April 17th. Oppenheimer lowered their target price on shares of Abbott Laboratories from $132.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Wells Fargo & Company boosted their price target on shares of Abbott Laboratories from $109.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. BTIG Research raised their price objective on shares of Abbott Laboratories from $131.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, Bank of America lowered their price objective on Abbott Laboratories from $120.00 to $102.00 in a report on Friday, June 12th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.61.

Abbott Laboratories Stock Performance

NYSE ABT opened at $100.87 on Friday. The business has a 50 day moving average price of $91.24 and a 200 day moving average price of $101.32. The company has a market capitalization of $175.70 billion, a P/E ratio of 32.64, a PEG ratio of 1.95 and a beta of 0.61. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $137.49. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.39 and a quick ratio of 1.01.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. The company had revenue of $12.51 billion for the quarter, compared to the consensus estimate of $12.52 billion. Abbott Laboratories had a return on equity of 17.65% and a net margin of 11.65%.Abbott Laboratories’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 earnings per share. 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. Sell-side analysts expect that Abbott Laboratories will post 5.51 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Wednesday, July 15th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Abbott Laboratories’s dividend payout ratio is presently 81.55%.

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.