Abbott Laboratories $ABT Shares Sold by Danica Pension Livsforsikringsaktieselskab

Key Points

• Danica Pension Livsforsikringsaktieselskab cut its Abbott Laboratories stake by 49.1% in the first quarter, selling 760,517 shares and leaving it with 787,773 shares valued at about $80.9 million.
• Abbott’s latest quarterly results beat expectations, with EPS of $1.31 versus the $1.28 consensus, while revenue rose 13% year over year to $12.51 billion.
• Wall Street remains broadly positive on the stock, with an average Moderate Buy rating and a consensus price target of $118.61; Abbott also announced a quarterly dividend of $0.63 per share.

Danica Pension Livsforsikringsaktieselskab lessened its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 49.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 787,773 shares of the healthcare product maker's stock after selling 760,517 shares during the quarter. Abbott Laboratories makes up about 1.5% of Danica Pension Livsforsikringsaktieselskab's investment portfolio, making the stock its 11th biggest position. Danica Pension Livsforsikringsaktieselskab's holdings in Abbott Laboratories were worth $80,881,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ABT. Robert W. Baird began coverage on shares of Abbott Laboratories in a report on Wednesday, July 1st. They issued an "outperform" rating and a $121.00 price target on the stock. Daiwa Securities Group lowered 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. Leerink Partners lowered their price target on Abbott Laboratories from $119.00 to $106.00 and set a "market perform" rating for the company in a research report on Tuesday, April 21st. Oppenheimer dropped their price target on Abbott Laboratories from $132.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. Finally, Citigroup lifted 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. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $118.61.

Abbott Laboratories Trading Down 2.0%

NYSE:ABT opened at $99.67 on Wednesday. The stock has a market cap of $173.61 billion, a price-to-earnings ratio of 32.26, a price-to-earnings-growth ratio of 2.03 and a beta of 0.61. Abbott Laboratories has a one year low of $81.97 and a one year high of $137.49. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.39. The business's 50-day simple moving average is $90.58 and its 200 day simple moving average is $101.66.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.03. Abbott Laboratories had a return on equity of 17.65% and a net margin of 11.65%.The firm had revenue of $12.51 billion during the quarter, compared to analyst estimates of $12.52 billion. During the same quarter last year, the firm earned $1.26 EPS. Abbott Laboratories's quarterly revenue was up 13.0% on a year-over-year basis. 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. As a group, sell-side analysts predict that Abbott Laboratories will post 5.51 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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

Insider Buying and Selling at Abbott Laboratories

In related news, Director Daniel J. Starks bought 10,000 shares of the business's stock in a transaction dated Monday, April 27th. The shares were acquired at an average price of $92.65 per share, for a total transaction of $926,500.00. Following the purchase, the director owned 6,751,103 shares in the company, valued at $625,489,692.95. This trade represents a 0.15% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Philip P. Boudreau purchased 2,200 shares of Abbott Laboratories stock in a transaction dated Thursday, April 23rd. The shares were bought at an average cost of $91.50 per share, for a total transaction of $201,300.00. Following 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 disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.46% of the company's stock.

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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