Lmcg Investments LLC Decreases Stock Holdings in Abbott Laboratories $ABT

Key Points

• Lmcg Investments LLC cut its Abbott Laboratories stake by 24.8% in the first quarter, selling 33,374 shares and ending with 101,379 shares valued at about $10.4 million.
• Abbott’s latest earnings beat expectations, with quarterly EPS of $1.15 and revenue of $11.16 billion, both slightly above analyst forecasts; revenue also rose 7.8% year over year.
• Wall Street remains broadly positive on ABT, despite some target-price cuts, with a consensus rating of “Moderate Buy” and an average price target of $118.42. The company also announced a quarterly dividend of $0.63 per share, yielding 2.6% annually.

Lmcg Investments LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 24.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 101,379 shares of the healthcare product maker's stock after selling 33,374 shares during the period. Lmcg Investments LLC's holdings in Abbott Laboratories were worth $10,409,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. purchased a new stake in Abbott Laboratories in the fourth quarter worth approximately $25,000. Cornerstone Financial Management LLC purchased a new stake in Abbott Laboratories during the 4th quarter valued at $25,000. Purpose Unlimited Inc. bought a new position in shares of Abbott Laboratories during the 4th quarter valued at $25,000. Portfolio Resources Advisor Group Inc. purchased a new position in shares of Abbott Laboratories in the 4th quarter worth $26,000. Finally, Abound Financial LLC bought a new stake in shares of Abbott Laboratories in the fourth quarter worth $26,000. Hedge funds and other institutional investors own 75.18% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on ABT shares. Jefferies Financial Group reduced 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. Oppenheimer cut their price target on Abbott Laboratories from $132.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. BTIG Research reiterated a "buy" rating and issued a $131.00 price objective on shares of Abbott Laboratories in a research note on Monday, April 27th. Weiss Ratings raised shares of Abbott Laboratories from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday. Finally, Royal Bank Of Canada cut their target price on shares of Abbott Laboratories from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Friday, April 17th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $118.42.

Abbott Laboratories Stock Performance

Shares of ABT opened at $95.12 on Thursday. The business has a 50-day simple moving average of $89.15 and a two-hundred day simple moving average of $103.53. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.56. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $137.49. The stock has a market cap of $165.68 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.65 and a beta of 0.61.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.01. The firm had revenue of $11.16 billion for 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. 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. On average, analysts expect that Abbott Laboratories will post 5.48 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $2.52 annualized dividend and a yield of 2.6%. Abbott Laboratories's payout ratio is currently 70.59%.

Insider Buying and Selling

In other news, CFO Philip P. Boudreau bought 2,200 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The stock was bought at an average price of $91.50 per share, with a total value of $201,300.00. Following the acquisition, the chief financial officer owned 2,200 shares of the company's stock, valued at approximately $201,300. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Starks purchased 10,000 shares of the business's stock in a transaction on Monday, April 27th. The stock was acquired at an average price of $92.65 per share, with a total value of $926,500.00. Following the purchase, the director directly owned 6,751,103 shares in the company, valued at $625,489,692.95. This represents a 0.15% increase in their position. The SEC filing for this purchase provides additional information. Corporate 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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