Parallel Advisors LLC Trims Stake in Abbott Laboratories $ABT

Key Points

• Parallel Advisors LLC cut its Abbott Laboratories stake by 10.2% in the first quarter, selling 13,349 shares and retaining 117,741 shares valued at approximately $12.1 million. Institutional investors collectively own 75.18% of Abbott’s stock.
• Wall Street remains broadly positive on Abbott, with an overall “Moderate Buy” rating and an average price target of $118.17. Recent analysts raised targets as high as $134.
• Abbott beat quarterly expectations with $1.31 in earnings per share and $12.59 billion in revenue, up 13% year over year. The company also declared a quarterly dividend of $0.63 per share, representing a 2.4% annualized yield.

Parallel Advisors LLC reduced its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 10.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,741 shares of the healthcare product maker's stock after selling 13,349 shares during the period. Parallel Advisors LLC's holdings in Abbott Laboratories were worth $12,089,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Optiver Holding B.V. bought a new stake in shares of Abbott Laboratories during the first quarter valued at approximately $89,000. First Nebraska Trust Co purchased a new position in Abbott Laboratories during the first quarter valued at $612,000. Financial Solutions Advisory Group Inc. purchased a new position in Abbott Laboratories during the first quarter valued at $1,023,000. Capasso Planning Partners LLC boosted its holdings in shares of Abbott Laboratories by 743.6% during the 1st quarter. Capasso Planning Partners LLC now owns 3,290 shares of the healthcare product maker's stock valued at $338,000 after buying an additional 2,900 shares in the last quarter. Finally, Axiom Investment Management LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth about $368,000. 75.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ABT has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of Abbott Laboratories from $108.00 to $112.00 and gave the company a "buy" rating in a research report on Friday, July 17th. JPMorgan Chase & Co. upped their price objective on shares of Abbott Laboratories from $110.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Evercore decreased their target price on shares of Abbott Laboratories from $134.00 to $120.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. TD Cowen reissued a "buy" rating and issued a $115.00 price target on shares of Abbott Laboratories in a research report on Friday, July 17th. Finally, BTIG Research upped their price target on 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 assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $118.17.

Abbott Laboratories Stock Down 1.4%

Shares of Abbott Laboratories stock opened at $105.58 on Wednesday. The company has a 50-day simple moving average of $94.23 and a two-hundred day simple moving average of $100.20. The stock has a market capitalization of $182.69 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 2.07 and a beta of 0.59. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $137.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly 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 net margin of 11.65% and a return on equity of 17.69%. The firm had revenue of $12.59 billion for the quarter, compared to analysts' expectations of $12.52 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. The business'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. On average, analysts anticipate that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be issued a $0.63 dividend. 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 (DPR) is presently 81.55%.

Abbott Laboratories Company 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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