Cannell & Spears LLC Has $56.34 Million Stock Position in Abbott Laboratories $ABT

Cannell & Spears LLC cut its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 2.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 550,436 shares of the healthcare product maker's stock after selling 13,770 shares during the period. Abbott Laboratories comprises approximately 1.1% of Cannell & Spears LLC's investment portfolio, making the stock its 24th biggest holding. Cannell & Spears LLC's holdings in Abbott Laboratories were worth $56,345,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in shares of Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after acquiring an additional 4,755 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Abbott Laboratories by 3.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,768 shares of the healthcare product maker's stock worth $648,000 after purchasing an additional 162 shares during the last quarter. United Bank raised its stake in shares of Abbott Laboratories by 7.4% during the 2nd quarter. United Bank now owns 29,004 shares of the healthcare product maker's stock worth $3,945,000 after purchasing an additional 2,001 shares in the last quarter. Main Street Financial Solutions LLC lifted its stake in Abbott Laboratories by 13.6% in the second quarter. Main Street Financial Solutions LLC now owns 11,894 shares of the healthcare product maker's stock valued at $1,618,000 after acquiring an additional 1,428 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Abbott Laboratories by 25.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,435,683 shares of the healthcare product maker's stock valued at $195,267,000 after purchasing an additional 292,547 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Abbott Laboratories news, Director Daniel J. Starks purchased 10,000 shares of the firm's stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average cost 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 of the company's stock, valued at approximately $625,489,692.95. The trade was a 0.15% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

ABT has been the subject of a number of research analyst reports. Daiwa Securities Group cut Abbott Laboratories from an "outperform" rating to a "neutral" rating and set a $92.00 price target for the company. in a report on Wednesday, April 22nd. Jefferies Financial Group cut their price objective on Abbott Laboratories from $145.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, April 17th. UBS Group decreased their target price on Abbott Laboratories from $158.00 to $135.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Barclays dropped their price target on Abbott Laboratories from $144.00 to $143.00 and set an "overweight" rating on the stock in a research note on Monday, April 20th. Finally, Leerink Partners reduced their price objective on shares of Abbott Laboratories from $119.00 to $106.00 and set a "market perform" rating for the company in a research report on Tuesday, April 21st. Three 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 assigned a Sell rating to the company. According to data from MarketBeat, Abbott Laboratories presently has an average rating of "Moderate Buy" and an average target price of $118.61.

Abbott Laboratories Trading Up 2.4%

Shares of NYSE:ABT opened at $103.13 on Friday. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $137.49. The business has a 50 day moving average of $91.61 and a 200-day moving average of $101.33. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market cap of $179.63 billion, a PE ratio of 33.38, a P/E/G ratio of 1.95 and a beta of 0.61.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced 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 company had revenue of $12.51 billion for the quarter, compared to analyst estimates of $12.52 billion. Abbott Laboratories had a return on equity of 17.65% and a net margin of 11.65%.The firm's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 earnings per share. 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. As a group, equities research analysts forecast that Abbott Laboratories will post 5.51 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 15th. Abbott Laboratories's payout ratio is presently 81.55%.

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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