Abbott Laboratories $ABT Shares Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp increased its Abbott Laboratories stake by 2.0% in the fourth quarter, holding 12.9 million shares worth about $1.62 billion.
• Several other institutional investors also boosted positions in Abbott, and hedge funds and other institutions now own 75.18% of the company.
• Abbott reported quarterly EPS of $1.15, slightly ahead of expectations, and lifted full-year guidance to 5.38–5.58 EPS; analysts currently rate the stock a Moderate Buy with an average target price of $119.09.

Bank of New York Mellon Corp increased its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,926,170 shares of the healthcare product maker's stock after purchasing an additional 247,657 shares during the period. Bank of New York Mellon Corp owned approximately 0.74% of Abbott Laboratories worth $1,619,520,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ABT. Norges Bank acquired a new stake in Abbott Laboratories in the fourth quarter valued at $2,938,892,000. Invesco Ltd. grew its stake in shares of Abbott Laboratories by 51.0% during the 3rd quarter. Invesco Ltd. now owns 13,951,907 shares of the healthcare product maker's stock worth $1,868,718,000 after purchasing an additional 4,713,135 shares during the period. Ninety One UK Ltd purchased a new position in shares of Abbott Laboratories in the 4th quarter valued at about $336,815,000. Vanguard Group Inc. lifted its stake in shares of Abbott Laboratories by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 175,556,716 shares of the healthcare product maker's stock valued at $21,995,501,000 after purchasing an additional 2,402,408 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in Abbott Laboratories by 51.0% during the third quarter. Alliancebernstein L.P. now owns 5,525,906 shares of the healthcare product maker's stock worth $740,140,000 after buying an additional 1,865,250 shares in the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, Director Daniel J. Starks purchased 10,000 shares of the stock in a transaction on Monday, April 27th. The stock was bought at an average price of $92.65 per share, for a total transaction of $926,500.00. Following the acquisition, the director directly owned 6,751,103 shares of the company's stock, valued at $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 SEC, which is available at this link. Also, CFO Philip P. Boudreau bought 2,200 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The stock was bought at an average cost of $91.50 per share, for a total transaction 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 position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock opened at $87.02 on Wednesday. The stock has a market capitalization of $151.57 billion, a P/E ratio of 24.38, a P/E/G ratio of 1.46 and a beta of 0.63. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $139.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.39 and a quick ratio of 1.01. The firm's 50-day moving average is $94.07 and its two-hundred day moving average is $110.31.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.01. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The business had revenue of $11.16 billion for the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The company's quarterly 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. Equities analysts predict that Abbott Laboratories will post 5.48 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on ABT shares. Sanford C. Bernstein dropped their target price on shares of Abbott Laboratories from $125.00 to $110.00 and set an "outperform" rating for the company in a report on Friday, April 17th. Barclays lowered their price target on Abbott Laboratories from $144.00 to $143.00 and set an "overweight" rating on the stock in a report on Monday, April 20th. JPMorgan Chase & Co. dropped their price objective 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. Daiwa Securities Group downgraded Abbott Laboratories from an "outperform" rating to a "neutral" rating and set a $92.00 target price on the stock. in a research report on Wednesday, April 22nd. Finally, Mizuho lowered their target price on Abbott Laboratories from $125.00 to $115.00 and set a "neutral" rating on the stock in a report on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $119.09.

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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