PNC Financial Services Group Inc. Raises Stock Position in Abbott Laboratories $ABT

Key Points

• PNC Financial Services Group increased its stake in Abbott Laboratories by 1.8% in the fourth quarter, adding 83,377 shares and bringing its total holding to 4,663,821 shares worth about $584.3 million.
• Analysts remain mostly positive on Abbott despite recent price-target cuts, with a consensus rating of Moderate Buy and an average target price of $119.43. Several firms lowered targets, while some still maintained buy ratings.
• Abbott reported better-than-expected quarterly results, with EPS of $1.15 and revenue of $11.16 billion, and it reaffirmed full-year and Q2 guidance. The company also pays a quarterly dividend of $0.63 per share, yielding about 2.8% annually.

PNC Financial Services Group Inc. increased its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,663,821 shares of the healthcare product maker's stock after acquiring an additional 83,377 shares during the period. PNC Financial Services Group Inc. owned approximately 0.27% of Abbott Laboratories worth $584,330,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $27,000. Cloud Capital Management LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at about $29,000. Guerra Advisors Inc acquired a new position in Abbott Laboratories in the third quarter valued at approximately $31,000. Bridge Generations Wealth Management LLC bought a new position in Abbott Laboratories during the 3rd quarter worth $33,000. Finally, Copia Wealth Management bought a new position in shares of Abbott Laboratories during the third quarter worth about $38,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. TD Cowen decreased their price target on Abbott Laboratories from $137.00 to $115.00 and set a "buy" rating for the company in a research note on Friday, April 17th. Argus decreased their price target on shares of Abbott Laboratories from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Tuesday, April 21st. Stifel Nicolaus cut their price objective on Abbott Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, April 17th. Daiwa Securities Group lowered Abbott Laboratories from an "outperform" rating to a "neutral" rating and set a $92.00 target price for the company. in a report on Wednesday, April 22nd. Finally, Weiss Ratings cut shares of Abbott Laboratories from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.43.

Insider Transactions at Abbott Laboratories

In other news, CFO Philip P. Boudreau purchased 2,200 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The shares were acquired at an average price of $91.50 per share, for a total transaction of $201,300.00. Following the completion of the acquisition, the chief financial officer directly owned 2,200 shares in the company, valued at approximately $201,300. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 885 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $115.58, for a total transaction of $102,288.30. Following the completion of the transaction, the executive vice president directly owned 146,377 shares in the company, valued at approximately $16,918,253.66. The trade was a 0.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 3,055 shares of company stock worth $353,097. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $88.81 on Wednesday. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $139.06. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.39. The company has a market cap of $154.70 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 1.47 and a beta of 0.65. The firm's 50-day moving average is $98.14 and its 200-day moving average is $112.73.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.01. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The company had revenue of $11.16 billion during the quarter, compared to analysts' expectations of $10.99 billion. During the same quarter in the prior year, the company posted $1.09 EPS. The business's revenue was up 7.8% on a year-over-year basis. 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 anticipate that Abbott Laboratories will post 5.48 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Wednesday, April 15th. Abbott Laboratories's dividend payout ratio is presently 70.59%.

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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