Abbott Laboratories $ABT Shares Sold by Whittier Trust Co.

Key Points

• Whittier Trust Co. cut its Abbott Laboratories stake by 53.6% in the first quarter, selling 216,830 shares and ending with 187,804 shares valued at about $19.2 million.
• Abbott reported better-than-expected quarterly results, with EPS of $1.15 versus $1.14 expected and revenue of $11.16 billion, up 7.8% year over year. The company also reiterated guidance, projecting FY 2026 EPS of $5.38 to $5.58.
• Abbott declared a quarterly dividend of $0.63 per share, payable August 17, for an annualized dividend of $2.52 and a yield of 2.6%. Several analysts have recently trimmed price targets, though the stock still carries a consensus Moderate Buy rating.

Whittier Trust Co. reduced its position in Abbott Laboratories (NYSE:ABT - Free Report) by 53.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 187,804 shares of the healthcare product maker's stock after selling 216,830 shares during the period. Whittier Trust Co.'s holdings in Abbott Laboratories were worth $19,212,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. J. Stern & Co. LLP increased its stake in Abbott Laboratories by 12,439.6% in the fourth quarter. J. Stern & Co. LLP now owns 39,319,009 shares of the healthcare product maker's stock valued at $4,926,279,000 after purchasing an additional 39,005,451 shares during the last quarter. Norges Bank acquired a new stake in Abbott Laboratories in the 4th quarter worth about $2,938,892,000. Invesco Ltd. boosted its stake in Abbott Laboratories by 51.0% in the 3rd quarter. Invesco Ltd. now owns 13,951,907 shares of the healthcare product maker's stock worth $1,868,718,000 after buying an additional 4,713,135 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Abbott Laboratories by 303.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,429,571 shares of the healthcare product maker's stock valued at $454,784,000 after buying an additional 3,330,368 shares during the period. Finally, Ninety One UK Ltd acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at about $336,815,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Trading Down 0.2%

NYSE ABT opened at $95.25 on Monday. The firm has a market capitalization of $165.91 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 1.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.39. Abbott Laboratories has a one year low of $81.97 and a one year high of $137.49. The company's 50 day moving average price is $88.95 and its 200 day moving average price is $104.18.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share (EPS) for the quarter, topping 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 company had revenue of $11.16 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. Abbott Laboratories's revenue for the quarter 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. On average, sell-side analysts predict that Abbott Laboratories will post 5.48 EPS for the current year.

Abbott Laboratories Announces Dividend

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. This represents a $2.52 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, July 15th. Abbott Laboratories's dividend payout ratio is currently 70.59%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ABT shares. Oppenheimer decreased their target price on shares of Abbott Laboratories from $132.00 to $115.00 and set an "outperform" rating on the stock in a research report on Friday, April 17th. Benchmark cut their price target on shares of Abbott Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, April 17th. Robert W. Baird initiated 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. Weiss Ratings cut shares of Abbott Laboratories from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, June 16th. Finally, Citigroup cut their target price on Abbott Laboratories from $136.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday, April 17th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $118.42.

Insider Activity

In related news, Director Daniel J. Starks bought 10,000 shares of the stock in a transaction dated Monday, April 27th. The stock was acquired at an average price of $92.65 per share, for a total transaction of $926,500.00. Following the completion of the purchase, the director owned 6,751,103 shares in the company, valued at $625,489,692.95. This represents a 0.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Philip P. Boudreau bought 2,200 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The shares were bought at an average price of $91.50 per share, for a total transaction of $201,300.00. Following the completion of the acquisition, the chief financial officer owned 2,200 shares in the company, valued at approximately $201,300. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.46% of the company's stock.

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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