AlphaCore Capital LLC Increases Stock Position in Abbott Laboratories $ABT

Key Points

• AlphaCore Capital increased its Abbott Laboratories stake by 157.8% in the fourth quarter, buying 17,224 more shares to bring its total to 28,137 shares worth about $3.5 million.
• Several other institutional investors also raised or initiated positions, and about 75.18% of Abbott’s stock is owned by hedge funds and other institutions.
• Abbott reported quarterly earnings and revenue that beat analyst expectations, while also maintaining a dividend of $0.63 per share for a 3.0% annualized yield.

AlphaCore Capital LLC boosted its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 157.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,137 shares of the healthcare product maker's stock after purchasing an additional 17,224 shares during the quarter. AlphaCore Capital LLC's holdings in Abbott Laboratories were worth $3,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. DNB Asset Management AS raised its stake in shares of Abbott Laboratories by 3.4% during the fourth quarter. DNB Asset Management AS now owns 479,706 shares of the healthcare product maker's stock worth $60,102,000 after acquiring an additional 15,578 shares in the last quarter. IMG Wealth Management Inc. raised its stake in shares of Abbott Laboratories by 63.0% during the fourth quarter. IMG Wealth Management Inc. now owns 308 shares of the healthcare product maker's stock worth $39,000 after acquiring an additional 119 shares in the last quarter. Isthmus Partners LLC purchased a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $328,000. Phoenix Financial Ltd. grew its holdings in shares of Abbott Laboratories by 64.1% in the fourth quarter. Phoenix Financial Ltd. now owns 50,704 shares of the healthcare product maker's stock worth $6,352,000 after purchasing an additional 19,798 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Abbott Laboratories by 24.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 246,586 shares of the healthcare product maker's stock worth $30,931,000 after purchasing an additional 48,286 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Daniel J. Starks purchased 10,000 shares of the business's stock in a transaction that occurred on 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 completion of the acquisition, the director directly owned 6,751,103 shares in the company, valued at approximately $625,489,692.95. The trade was a 0.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John A. Jr. Mccoy sold 585 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $115.58, for a total transaction of $67,614.30. Following the sale, the vice president owned 24,628 shares in the company, valued at approximately $2,846,504.24. This trade represents a 2.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,055 shares of company stock valued at $353,097 over the last quarter. 0.46% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Mizuho cut their target price on shares of Abbott Laboratories from $125.00 to $115.00 and set a "neutral" rating on the stock in a report on Friday, April 17th. Leerink Partners cut their target price on shares of Abbott Laboratories from $119.00 to $106.00 and set a "market perform" rating on the stock in a report on Tuesday, April 21st. Benchmark cut their target price on shares of Abbott Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, April 17th. Sanford C. Bernstein cut their target price on shares of Abbott Laboratories from $125.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, April 17th. Finally, UBS Group cut their target price on shares of Abbott Laboratories from $158.00 to $135.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Two research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $119.43.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $84.49 on Friday. The stock has a market cap of $147.16 billion, a P/E ratio of 23.67, a price-to-earnings-growth ratio of 1.41 and a beta of 0.65. The firm's fifty day simple moving average is $99.02 and its 200 day simple moving average is $113.35. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $139.06. 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 quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share for the quarter, beating the consensus estimate 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 net margin of 13.90% and a return on equity of 17.62%. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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. As a group, research 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 was paid on Friday, May 15th. Investors of record on Wednesday, April 15th were issued a $0.63 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $2.52 annualized dividend and a yield of 3.0%. Abbott Laboratories's payout ratio is 70.59%.

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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