Abbott Laboratories $ABT Shares Sold by Cornerstone Wealth Group LLC

Key Points

• Cornerstone Wealth Group LLC cut its Abbott Laboratories stake by 62.1% in the first quarter, selling 59,710 shares and ending with 36,386 shares valued at about $3.74 million.
• Abbott reported strong quarterly results, with EPS of $1.15 beating estimates and revenue of $11.16 billion topping expectations, while also lifting FY 2026 guidance to $5.38-$5.58 EPS.
• The company declared a quarterly dividend of $0.63 per share, equal to an annualized yield of about 2.7%; analysts currently rate the stock a Moderate Buy with an average price target of $118.30.

Cornerstone Wealth Group LLC lessened its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 62.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,386 shares of the healthcare product maker's stock after selling 59,710 shares during the quarter. Cornerstone Wealth Group LLC's holdings in Abbott Laboratories were worth $3,736,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. J. Stern & Co. LLP boosted its stake in shares of Abbott Laboratories by 12,439.6% during 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 acquiring an additional 39,005,451 shares in the last quarter. Norges Bank purchased a new position in Abbott Laboratories in the 4th quarter valued at approximately $2,938,892,000. Invesco Ltd. raised its holdings in Abbott Laboratories by 51.0% during the third 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 last quarter. Assenagon Asset Management S.A. boosted its position in Abbott Laboratories by 303.0% during the first quarter. Assenagon Asset Management S.A. now owns 4,429,571 shares of the healthcare product maker's stock worth $454,784,000 after purchasing an additional 3,330,368 shares in the last quarter. Finally, Ninety One UK Ltd acquired a new stake in Abbott Laboratories in the fourth quarter valued at $336,815,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Up 0.8%

ABT opened at $94.02 on Friday. The firm has a market cap of $163.77 billion, a P/E ratio of 26.34, a PEG ratio of 1.62 and a beta of 0.63. The business's fifty day simple moving average is $89.08 and its 200 day simple moving average is $105.38. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $137.49. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.56.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.01. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The company had revenue of $11.16 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same period in the prior year, the firm earned $1.09 EPS. The firm's quarterly revenue was up 7.8% on a year-over-year basis. 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. As a group, equities research analysts anticipate that Abbott Laboratories will post 5.48 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company 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 dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $2.52 annualized dividend and a dividend yield of 2.7%. Abbott Laboratories's dividend payout ratio is presently 70.59%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ABT shares. Citigroup dropped their price target on Abbott Laboratories from $136.00 to $108.00 and set a "buy" rating for the company in a research report on Friday, April 17th. 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 note on Wednesday, May 27th. TD Cowen dropped their target price on shares of Abbott Laboratories from $137.00 to $115.00 and set a "buy" rating for the company in a report on Friday, April 17th. Weiss Ratings downgraded shares of Abbott Laboratories from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, June 16th. Finally, Royal Bank Of Canada lowered their price target on shares of Abbott Laboratories from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Abbott Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $118.30.

Insider Buying and Selling

In other news, Director Daniel J. Starks bought 10,000 shares of the stock in a transaction on Monday, April 27th. The stock was purchased at an average cost of $92.65 per share, with a total value of $926,500.00. Following the purchase, the director owned 6,751,103 shares of the company's stock, valued at approximately $625,489,692.95. The trade was 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 purchased 2,200 shares of Abbott Laboratories stock in a transaction on Thursday, April 23rd. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $201,300.00. Following the purchase, the chief financial officer owned 2,200 shares in the company, valued at approximately $201,300. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.46% of the stock is currently owned by company insiders.

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.

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