Allstate Corp Acquires 69,548 Shares of Abbott Laboratories $ABT

Key Points

• Allstate Corp increased its stake in Abbott Laboratories by 110% in the fourth quarter, buying 69,548 additional shares and bringing its total holding to 132,792 shares worth about $16.6 million.
• Abbott Laboratories beat quarterly expectations, reporting EPS of $1.15 versus the $1.14 estimate and revenue of $11.16 billion versus $10.99 billion expected, with revenue up 7.8% year over year.
• Despite some target cuts, Wall Street remains largely positive on ABT, with a consensus “Moderate Buy” rating and an average price target of $119.43; the company also reiterated full-year and Q2 guidance.

Allstate Corp lifted its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 110.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,792 shares of the healthcare product maker's stock after purchasing an additional 69,548 shares during the quarter. Allstate Corp's holdings in Abbott Laboratories were worth $16,638,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Abbott Laboratories in the 4th quarter worth approximately $27,000. Cloud Capital Management LLC purchased a new stake in Abbott Laboratories during the 3rd quarter valued at $29,000. Guerra Advisors Inc bought a new position in shares of Abbott Laboratories during the 3rd quarter valued at $31,000. Bridge Generations Wealth Management LLC bought a new position in shares of Abbott Laboratories during the 3rd quarter valued at $33,000. Finally, Leonteq Securities AG bought a new position in shares of Abbott Laboratories during the 4th quarter valued at $35,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $87.42 on Tuesday. Abbott Laboratories has a one year low of $81.97 and a one year high of $139.06. The stock's fifty day moving average is $96.32 and its 200 day moving average is $111.70. The stock has a market cap of $152.27 billion, a P/E ratio of 24.49, a P/E/G ratio of 1.46 and a beta of 0.65. 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 (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.01. The business had revenue of $11.16 billion for the quarter, compared to analysts' expectations of $10.99 billion. Abbott Laboratories had a return on equity of 17.62% and a net margin of 13.90%.The business's quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $1.09 earnings per share. 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. Sell-side analysts anticipate that Abbott Laboratories will post 5.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ABT shares. The Goldman Sachs Group lowered their price target on Abbott Laboratories from $140.00 to $121.00 and set a "buy" rating on the stock in a report on Wednesday, April 8th. Piper Sandler lowered their price target on Abbott Laboratories from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Friday, April 17th. BTIG Research reissued a "buy" rating and set a $131.00 price target on shares of Abbott Laboratories in a report on Monday, April 27th. Weiss Ratings cut Abbott Laboratories from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, April 24th. Finally, Mizuho decreased 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 assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $119.43.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau purchased 2,200 shares of the firm's stock in a transaction on Thursday, April 23rd. The shares were acquired at an average cost of $91.50 per share, with a total value of $201,300.00. Following the completion of the acquisition, the chief financial officer directly owned 2,200 shares in the company, valued at $201,300. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP John A. Jr. Mccoy sold 585 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $115.58, for a total value of $67,614.30. Following the sale, the vice president directly owned 24,628 shares in the company, valued at approximately $2,846,504.24. This represents a 2.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,055 shares of company stock valued at $353,097. 0.46% of the stock is currently owned by corporate 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.

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.