Keebeck Wealth Management Sells 23,375 Shares of Abbott Laboratories $ABT

Key Points

• Keebeck Wealth Management cut its Abbott Laboratories position by 76.7% in the first quarter, selling 23,375 shares and leaving it with 7,114 shares worth about $730,000.
• Abbott’s recent earnings beat expectations, with Q2 EPS of $1.31 versus the $1.28 consensus, while revenue rose 13% year over year to $12.51 billion.
• Wall Street remains broadly positive on ABT, with an average “Moderate Buy” rating and a consensus price target of $118.61; the stock also pays a quarterly dividend of $0.63 per share, yielding about 2.4%.

Keebeck Wealth Management trimmed its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 76.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,114 shares of the healthcare product maker's stock after selling 23,375 shares during the period. Keebeck Wealth Management's holdings in Abbott Laboratories were worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ABT. MidAtlantic Capital Management Inc. bought a new position in Abbott Laboratories during the fourth quarter valued at $25,000. Cornerstone Financial Management LLC bought a new stake in shares of Abbott Laboratories in the 4th quarter worth about $25,000. Purpose Unlimited Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $25,000. Portfolio Resources Advisor Group Inc. purchased a new stake in shares of Abbott Laboratories during the 4th quarter valued at about $26,000. Finally, Abound Financial LLC bought a new position in shares of Abbott Laboratories in the 4th quarter valued at about $26,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ABT. JPMorgan Chase & Co. boosted their price objective on Abbott Laboratories from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Raymond James Financial dropped their target price on Abbott Laboratories from $130.00 to $115.00 and set an "outperform" rating for the company in a report on Friday, April 17th. Stifel Nicolaus cut their target price on Abbott Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a research report on Friday, April 17th. Daiwa Securities Group lowered 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. Finally, Evercore lowered their price target on Abbott Laboratories from $134.00 to $120.00 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 assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $118.61.

Abbott Laboratories Stock Up 2.4%

Shares of NYSE ABT opened at $103.13 on Friday. Abbott Laboratories has a 1 year low of $81.97 and a 1 year high of $137.49. The firm has a 50-day simple moving average of $91.61 and a two-hundred day simple moving average of $101.33. The company has a market cap of $179.63 billion, a P/E ratio of 33.38, a PEG ratio of 1.95 and a beta of 0.61. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.39 and a quick ratio of 1.01.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 EPS for the quarter, beating 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 firm had revenue of $12.51 billion for the quarter, compared to analysts' expectations of $12.52 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The company's quarterly revenue 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. Research analysts anticipate that Abbott Laboratories will post 5.51 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

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 dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is 81.55%.

Insider Buying and Selling at Abbott Laboratories

In related news, Director Daniel J. Starks bought 10,000 shares of the stock in a transaction dated Monday, April 27th. The stock was purchased at an average cost of $92.65 per share, with a total value of $926,500.00. Following the completion of the purchase, the director owned 6,751,103 shares of the company's stock, 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 filing with the SEC, which is available at the SEC website. 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.

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