Evercore Wealth Management LLC Reduces Holdings in Abbott Laboratories $ABT

Key Points

• Evercore Wealth Management cut its Abbott Laboratories stake by 10.3% in the first quarter, selling 10,086 shares and retaining 87,823 shares valued at approximately $9.0 million. Institutional investors collectively own 75.18% of Abbott’s stock.
• Analysts maintain a generally bullish outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $118.61. Recent targets range from $113 to $134.
• Abbott reported quarterly EPS of $1.31, exceeding estimates by $0.03, while revenue rose 13% year over year to $12.51 billion. The company also declared a quarterly dividend of $0.63 per share, representing a 2.4% annualized yield.

Evercore Wealth Management LLC lowered its position in Abbott Laboratories (NYSE:ABT - Free Report) by 10.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 87,823 shares of the healthcare product maker's stock after selling 10,086 shares during the period. Evercore Wealth Management LLC's holdings in Abbott Laboratories were worth $9,017,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after purchasing an additional 4,755 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Abbott Laboratories by 3.5% during the second quarter. Sivia Capital Partners LLC now owns 4,768 shares of the healthcare product maker's stock worth $648,000 after buying an additional 162 shares during the last quarter. United Bank grew its holdings in Abbott Laboratories by 7.4% in the 2nd quarter. United Bank now owns 29,004 shares of the healthcare product maker's stock valued at $3,945,000 after buying an additional 2,001 shares in the last quarter. Main Street Financial Solutions LLC grew its holdings in Abbott Laboratories by 13.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,894 shares of the healthcare product maker's stock valued at $1,618,000 after buying an additional 1,428 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake 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 worth $195,267,000 after acquiring an additional 292,547 shares during the last quarter. Hedge funds and other institutional investors own 75.18% of the company's stock.

Analyst Ratings Changes

ABT has been the topic of several analyst reports. Robert W. Baird started coverage on shares of Abbott Laboratories in a research report on Wednesday, July 1st. They set an "outperform" rating and a $121.00 price target on the stock. Raymond James Financial lowered their price objective on shares of Abbott Laboratories from $130.00 to $115.00 and set an "outperform" rating for the company in a research report on Friday, April 17th. The Goldman Sachs Group dropped their target price on Abbott Laboratories from $121.00 to $113.00 and set a "buy" rating for the company in a research report on Wednesday, May 27th. Piper Sandler reaffirmed an "overweight" rating and set a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. Finally, BTIG Research upped their target price on shares of Abbott Laboratories from $131.00 to $134.00 and gave the stock a "buy" rating in a research note on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $118.61.

Abbott Laboratories Stock Up 1.5%

Shares of NYSE:ABT opened at $104.61 on Tuesday. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $137.49. 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 stock has a market cap of $182.20 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.00 and a beta of 0.61. The firm has a fifty day moving average price of $91.95 and a 200 day moving average price of $100.99.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data 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. Abbott Laboratories had a return on equity of 17.65% and a net margin of 11.65%.The company had revenue of $12.51 billion during the quarter, compared to analysts' expectations of $12.52 billion. During the same period last year, the firm earned $1.26 EPS. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. 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. Sell-side analysts predict that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be paid 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 dividend yield of 2.4%. Abbott Laboratories's dividend payout ratio is 81.55%.

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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