Citizens Financial Group Inc. RI Has $12.81 Million Stake in Abbott Laboratories $ABT

Key Points

• Citizens Financial Group cut its stake in Abbott Laboratories by 15.3% in the first quarter, selling 22,595 shares and ending with 124,805 shares valued at about $12.8 million.
• Abbott reported better-than-expected quarterly results, with EPS of $1.15 versus the $1.14 estimate and revenue of $11.16 billion versus $10.99 billion expected. The company also raised guidance, projecting FY 2026 EPS of $5.38 to $5.58.
• Abbott announced a quarterly dividend of $0.63 per share, implying an annualized payout of $2.52 and a yield of about 2.7%. The stock was down modestly on the day, while analysts currently rate it a Moderate Buy on average.

Citizens Financial Group Inc. RI reduced its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 15.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,805 shares of the healthcare product maker's stock after selling 22,595 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Abbott Laboratories were worth $12,814,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Fifth Third Bancorp increased its holdings in shares of Abbott Laboratories by 49.1% in the 1st quarter. Fifth Third Bancorp now owns 1,906,560 shares of the healthcare product maker's stock valued at $195,746,000 after purchasing an additional 628,021 shares during the period. Glass Wealth Management Co LLC boosted its holdings in shares of Abbott Laboratories by 9.7% during the first quarter. Glass Wealth Management Co LLC now owns 2,815 shares of the healthcare product maker's stock worth $289,000 after purchasing an additional 250 shares during the period. Summit Financial Strategies Inc. grew its position in Abbott Laboratories by 16.1% during the first quarter. Summit Financial Strategies Inc. now owns 9,465 shares of the healthcare product maker's stock valued at $972,000 after purchasing an additional 1,312 shares in the last quarter. Simplicity Wealth LLC increased its stake in Abbott Laboratories by 35.8% in the 1st quarter. Simplicity Wealth LLC now owns 25,056 shares of the healthcare product maker's stock valued at $2,572,000 after buying an additional 6,608 shares during the period. Finally, Conning Inc. lifted its position in Abbott Laboratories by 17.6% in the 1st quarter. Conning Inc. now owns 322,830 shares of the healthcare product maker's stock worth $33,145,000 after buying an additional 48,362 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Down 0.5%

NYSE:ABT traded down $0.42 during trading hours on Friday, reaching $93.97. The company's stock had a trading volume of 6,911,805 shares, compared to its average volume of 12,569,929. Abbott Laboratories has a one year low of $81.97 and a one year high of $137.49. The business's 50-day moving average is $89.21 and its 200-day moving average is $103.24. 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 market cap of $163.69 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.01. The company had revenue of $11.16 billion during 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% compared to the same quarter last year. During the same quarter in the previous 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. Equities research analysts predict that Abbott Laboratories will post 5.48 EPS for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.63 per share. 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 2.7%. Abbott Laboratories's dividend payout ratio is presently 70.59%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ABT. Daiwa Securities Group cut shares of Abbott Laboratories from an "outperform" rating to a "neutral" rating and set a $92.00 price target on the stock. in a report on Wednesday, April 22nd. TD Cowen reduced their price objective on Abbott Laboratories from $137.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, April 17th. Sanford C. Bernstein lowered their target price on Abbott Laboratories from $125.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, April 17th. Royal Bank Of Canada cut their price target on Abbott Laboratories from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. Finally, Jefferies Financial Group lowered their price target on Abbott Laboratories from $145.00 to $135.00 and set a "buy" rating for the company in a research note on Friday, April 17th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $118.42.

Insider Activity at Abbott Laboratories

In other news, Director Daniel J. Starks purchased 10,000 shares of the company's stock in a transaction dated Monday, April 27th. The shares were bought at an average price of $92.65 per share, with a total value of $926,500.00. Following the completion of the transaction, the director directly owned 6,751,103 shares in the company, valued at $625,489,692.95. This trade represents a 0.15% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Philip P. Boudreau acquired 2,200 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased 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 owned 2,200 shares in the company, valued at $201,300. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.46% of the company's stock.

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.

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.