Canandaigua National Bank & Trust Co. Buys Shares of 56,284 Abbott Laboratories $ABT

Key Points

• Canandaigua National Bank & Trust initiated a position in Abbott Laboratories during the second quarter, purchasing 56,284 shares valued at approximately $5.1 million. Institutional investors collectively own 75.18% of Abbott’s stock.
• Abbott exceeded quarterly expectations with earnings of $1.31 per share versus the $1.28 consensus estimate, while revenue rose 13% year over year to $12.59 billion. The company issued third-quarter and full-year 2026 earnings guidance.
• Abbott announced a quarterly dividend of $0.63 per share, equivalent to an annualized $2.52 dividend and a 2.4% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $118.17.

Canandaigua National Bank & Trust Co. bought a new position in Abbott Laboratories (NYSE:ABT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 56,284 shares of the healthcare product maker's stock, valued at approximately $5,107,000.

Several other institutional investors have also modified their holdings of the company. Cornerstone Financial Management LLC bought a new stake in shares of Abbott Laboratories during the fourth quarter valued at about $25,000. MidAtlantic Capital Management Inc. acquired a new position in Abbott Laboratories in the 4th quarter valued at approximately $25,000. Purpose Unlimited Inc. acquired a new stake in shares of Abbott Laboratories during the 4th quarter valued at $25,000. Portfolio Resources Advisor Group Inc. purchased a new position in Abbott Laboratories in the fourth quarter valued at about $26,000. Finally, Abound Financial LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth about $26,000. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $105.58 on Wednesday. The firm has a market capitalization of $182.69 billion, a PE ratio of 34.17, a PEG ratio of 2.07 and a beta of 0.59. Abbott Laboratories has a 1 year low of $81.97 and a 1 year high of $137.49. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. The firm's fifty day simple moving average is $94.23 and its 200 day simple moving average is $100.20.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.03. The firm had revenue of $12.59 billion during the quarter, compared to analyst estimates of $12.52 billion. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The business's revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. 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. On average, sell-side analysts anticipate that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders 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 dividend on an annualized basis and a yield of 2.4%. Abbott Laboratories's dividend payout ratio (DPR) is 81.55%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Jefferies Financial Group dropped their price objective on Abbott Laboratories from $145.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, April 17th. The Goldman Sachs Group dropped their price target on shares of Abbott Laboratories from $121.00 to $113.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. Piper Sandler reaffirmed an "overweight" rating and issued a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Citigroup increased their target price on shares of Abbott Laboratories from $108.00 to $112.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. Finally, Raymond James Financial reduced their price target on Abbott Laboratories from $130.00 to $115.00 and set an "outperform" rating for the company in a research report on Friday, April 17th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of "Moderate Buy" and an average target price of $118.17.

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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