Abbott Laboratories (NYSE:ABT) Shares Unloaded Rep. Richard McCormick

Key Points

• Rep. Richard McCormick sold Abbott Laboratories shares valued between $1,001 and $15,000 on July 30 from his Growth Partners Roth IRA. He also sold similarly sized positions in 10 other companies, including McDonald’s, Medtronic, PepsiCo and Johnson & Johnson.
• Abbott reported quarterly results above expectations, with EPS of $1.31 and revenue of $12.59 billion; revenue increased 13% year over year. The company guided for full-year 2026 EPS of $5.45 to $5.60.
• Analysts maintain a favorable view, with a consensus “Moderate Buy” rating and $118.67 price target. Abbott also pays a quarterly dividend of $0.63, equivalent to a 2.3% annualized yield.

Representative Richard McCormick (Republican-Georgia) recently sold shares of Abbott Laboratories NYSE: ABT. In a filing disclosed on August 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in Abbott Laboratories stock on July 30th. The trade occurred in the Representative's "GROWTH PARTNERS ROTH IRA" account.

Representative Richard McCormick also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of McDonald's NYSE: MCD on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Medtronic NYSE: MDT on 7/30/2026.
• Sold $1,001 - $15,000 in shares of NextEra Energy NYSE: NEE on 7/30/2026.
• Sold $1,001 - $15,000 in shares of PepsiCo NASDAQ: PEP on 7/30/2026.
• Sold $1,001 - $15,000 in shares of L3Harris Technologies NYSE: LHX on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Johnson & Johnson NYSE: JNJ on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Intercontinental Exchange NYSE: ICE on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Illinois Tool Works NYSE: ITW on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Home Depot NYSE: HD on 7/30/2026.
• Sold $1,001 - $15,000 in shares of Emerson Electric NYSE: EMR on 7/30/2026.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $110.68 on Tuesday. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $137.49. The firm has a market capitalization of $191.52 billion, a price-to-earnings ratio of 35.82, a price-to-earnings-growth ratio of 2.15 and a beta of 0.59. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $98.08 and a 200 day moving average of $99.79.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.03. The business had revenue of $12.59 billion for the quarter, compared to the consensus estimate of $12.52 billion. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The company's quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm 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. On average, research analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Wednesday, July 15th were issued a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. Abbott Laboratories's dividend payout ratio (DPR) is presently 81.55%.

Analyst Ratings Changes

A number of equities analysts recently commented on ABT shares. Citigroup raised their target price on Abbott Laboratories from $108.00 to $112.00 and gave the stock a "buy" rating in a report on Friday, July 17th. Piper Sandler restated an "overweight" rating and issued a $118.00 price target (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. Wells Fargo & Company raised their price objective on Abbott Laboratories from $109.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. UBS Group lowered their price objective on Abbott Laboratories from $135.00 to $125.00 and set a "buy" rating on the stock in a research report on Tuesday, July 28th. Finally, Wolfe Research upgraded Abbott Laboratories from a "peer perform" rating to an "outperform" rating and set a $130.00 price objective for the company in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.67.

Hedge Funds Weigh In On Abbott Laboratories

Several large investors have recently made changes to their positions in ABT. J. Stern & Co. LLP lifted its holdings in Abbott Laboratories by 12,439.6% in 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 purchasing an additional 39,005,451 shares in the last quarter. Norges Bank purchased a new stake in Abbott Laboratories during the 4th quarter valued at approximately $2,938,892,000. Bank of America Corp DE bought a new stake in shares of Abbott Laboratories during the second quarter valued at approximately $1,603,607,000. Legal & General Group Plc purchased a new position in shares of Abbott Laboratories in the second quarter worth $1,082,524,000. Finally, Flossbach Von Storch SE bought a new position in shares of Abbott Laboratories during the second quarter worth $902,938,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

About Representative McCormick

Rich McCormick (Republican Party) is a member of the U.S. House, representing Georgia's 7th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. McCormick (Republican Party) is running for re-election to the U.S. House to represent Georgia's 7th Congressional District. He declared candidacy for the 2026 election. Rich McCormick lives in Suwanee, Georgia. McCormick served in the U.S. Marine Corps and the U.S. Navy. He earned an M.B.A. from National University and an M.D. from Morehouse School of Medicine. McCormick's career experience includes working as an emergency medicine physician with Gwinnett Medical Center and Northside Hospital, a Marine officer instructor with Georgia Tech and Morehouse College, and a pilot.

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.

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