Abbott Laboratories $ABT Shares Sold by Cornerstone Capital Inc.

Key Points

• Cornerstone Capital reduced its Abbott Laboratories stake by 10.9% in the second quarter, selling 23,866 shares and retaining 195,594 shares valued at approximately $17.75 million. Institutional investors collectively own 75.18% of Abbott’s stock.
• Abbott reported quarterly EPS of $1.31, beating estimates, while revenue rose 13% year over year to $12.59 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $118.67.
• Abbott agreed to pay approximately $670 million to settle part of the litigation involving specialty formulas for premature infants, though additional claims remain. Meanwhile, new diabetes-sensor and point-of-care testing partnerships could support future growth.

Cornerstone Capital Inc. cut its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 10.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,594 shares of the healthcare product maker's stock after selling 23,866 shares during the period. Abbott Laboratories accounts for about 1.6% of Cornerstone Capital Inc.'s holdings, making the stock its 26th biggest position. Cornerstone Capital Inc.'s holdings in Abbott Laboratories were worth $17,748,000 at the end of the most recent quarter.

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

Key Abbott Laboratories News

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Abbott’s Instinct continuous glucose sensor is now commercially shipping in the U.S. integrated with MiniMed’s Flex automated insulin-delivery system. The partnership expands Abbott’s presence in diabetes technology and could support sensor adoption and recurring revenue. MiniMed Ships MiniMed Flex With Abbott's Smallest Instinct Sensor
• Positive Sentiment: Abbott also entered a multiyear agreement with HealthTab to distribute its Afinion 2 point-of-care analyzers through NHS-linked pharmacies in the United Kingdom. The deal may broaden access to Abbott’s HbA1c and lipid-testing products, although financial details were not disclosed. HealthTab Enters Multi-Year Collaboration Agreement with Abbott
• Neutral Sentiment: Abbott agreed to pay approximately $670 million to resolve the Gill case and claims from roughly 2,000 individuals involving specialty formulas for premature infants. The settlement resolves a portion of the litigation, including the appeal of a prior $495 million verdict, reducing uncertainty and potentially avoiding additional legal costs. Abbott denied that its products cause necrotizing enterocolitis and said regulators and medical professionals consider the formulas safe and necessary. Abbott agrees to $670 million settlement of infant formula cases
• Negative Sentiment: The settlement represents a significant cash and earnings cost and does not resolve all potential litigation related to the infant formulas. Investors may continue to assess the scope of remaining claims and the effect on Abbott’s legal reserves and profitability. Abbott reaches agreements to resolve a portion of litigation involving its specialty formulas

Abbott Laboratories Stock Performance

NYSE ABT opened at $116.62 on Monday. The stock has a market capitalization of $201.80 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 2.26 and a beta of 0.59. The business's 50 day moving average is $100.08 and its two-hundred day moving average is $99.98. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $137.49. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 EPS for the quarter, beating the consensus estimate of $1.28 by $0.03. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%.The business had revenue of $12.59 billion during the quarter, compared to analysts' expectations of $12.52 billion. During the same period last year, the firm earned $1.26 EPS. The company'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. Research analysts expect that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders 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 yield of 2.2%. Abbott Laboratories's dividend payout ratio (DPR) is 81.55%.

Analysts Set New Price Targets

ABT has been the subject of several analyst reports. Citigroup upped their price objective on Abbott Laboratories from $108.00 to $112.00 and gave the company a "buy" rating in a research note on Friday, July 17th. BTIG Research boosted their target price on Abbott Laboratories from $131.00 to $134.00 and gave the company a "buy" rating in a report on Friday, July 17th. JPMorgan Chase & Co. upped their price target on Abbott Laboratories from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. UBS Group decreased their price target on Abbott Laboratories from $135.00 to $125.00 and set a "buy" rating for the company in a report on Tuesday, July 28th. Finally, The Goldman Sachs Group lowered their price objective on shares of Abbott Laboratories from $121.00 to $113.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $118.67.

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.

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