Bleakley Financial Group LLC Raises Position in Abbott Laboratories $ABT

Key Points

• Bleakley Financial Group increased its Abbott Laboratories stake by 22.5% in the fourth quarter, ending with 97,706 shares valued at about $12.24 million.
• Several other institutional investors also added to or initiated positions, and institutions now own 75.18% of Abbott’s stock.
• Abbott posted solid quarterly results, with $1.15 EPS and $11.16 billion in revenue, while analysts mostly remain constructive despite recent target-price cuts and a consensus rating of Moderate Buy.

Bleakley Financial Group LLC grew its position in Abbott Laboratories (NYSE:ABT - Free Report) by 22.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,706 shares of the healthcare product maker's stock after acquiring an additional 17,939 shares during the period. Bleakley Financial Group LLC's holdings in Abbott Laboratories were worth $12,242,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $27,000. Cloud Capital Management LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at about $29,000. Guerra Advisors Inc acquired a new stake in shares of Abbott Laboratories in the third quarter valued at about $31,000. Bridge Generations Wealth Management LLC acquired a new stake in shares of Abbott Laboratories in the third quarter valued at about $33,000. Finally, Copia Wealth Management acquired a new stake in shares of Abbott Laboratories in the third quarter valued at about $38,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Insider Buying and Selling at Abbott Laboratories

In related news, Director Daniel J. Starks bought 10,000 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average cost of $92.65 per share, for a total transaction of $926,500.00. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mary K. Moreland sold 613 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $115.58, for a total transaction of $70,850.54. Following the completion of the sale, the executive vice president owned 104,291 shares of the company's stock, valued at approximately $12,053,953.78. The trade was a 0.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 3,055 shares of company stock valued at $353,097. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings cut shares of Abbott Laboratories from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, April 24th. The Goldman Sachs Group reduced their price objective on shares of Abbott Laboratories from $140.00 to $121.00 and set a "buy" rating for the company in a research note on Wednesday, April 8th. Bank of America reduced their price objective on shares of Abbott Laboratories from $150.00 to $120.00 and set a "buy" rating for the company in a research note on Friday, April 17th. JPMorgan Chase & Co. cut their target price on shares of Abbott Laboratories from $123.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, April 17th. Finally, Piper Sandler cut their target price on shares of Abbott Laboratories from $135.00 to $115.00 and set an "overweight" rating for the company in a research report on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Abbott Laboratories currently has an average rating of "Moderate Buy" and a consensus target price of $119.43.

Abbott Laboratories Stock Performance

Shares of NYSE ABT opened at $87.42 on Tuesday. The company has a market cap of $152.27 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 1.46 and a beta of 0.65. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $139.06. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.39 and a quick ratio of 1.01. The company has a 50-day simple moving average of $96.32 and a 200-day simple moving average of $111.70.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.01. The business had revenue of $11.16 billion during the quarter, compared to the consensus estimate of $10.99 billion. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm 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. On average, equities analysts anticipate that Abbott Laboratories will post 5.48 earnings per share for the current year.

Abbott Laboratories Company 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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