Abbott Laboratories $ABT Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 5.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,808,243 shares of the healthcare product maker’s stock after selling 216,883 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Abbott Laboratories were worth $390,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. increased its stake in Abbott Laboratories by 1.9% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 607,055 shares of the healthcare product maker’s stock valued at $62,236,000 after buying an additional 11,056 shares during the period. Lipe & Dalton lifted its stake in shares of Abbott Laboratories by 39.2% in the 1st quarter. Lipe & Dalton now owns 1,420 shares of the healthcare product maker’s stock worth $146,000 after acquiring an additional 400 shares during the period. Seelaus Asset Management LLC boosted its holdings in shares of Abbott Laboratories by 2.0% in the first quarter. Seelaus Asset Management LLC now owns 6,273 shares of the healthcare product maker’s stock valued at $644,000 after acquiring an additional 125 shares in the last quarter. IAG Wealth Partners LLC increased its stake in shares of Abbott Laboratories by 43.1% during the first quarter. IAG Wealth Partners LLC now owns 531 shares of the healthcare product maker’s stock worth $54,000 after acquiring an additional 160 shares during the period. Finally, Staley Capital Advisers Inc. raised its holdings in Abbott Laboratories by 11.8% during the first quarter. Staley Capital Advisers Inc. now owns 7,457 shares of the healthcare product maker’s stock worth $766,000 after purchasing an additional 788 shares in the last quarter. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Daniel J. Starks purchased 10,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $625,489,692.95. This represents a 0.15% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Philip P. Boudreau acquired 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was acquired at an average price of $91.50 per share, for a total transaction of $201,300.00. Following the completion of the transaction, the chief financial officer directly owned 2,200 shares in the company, valued at approximately $201,300. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.46% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Raymond James Financial reduced 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. Bank of America cut their target price on Abbott Laboratories from $120.00 to $102.00 in a research note on Friday, June 12th. Weiss Ratings raised Abbott Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Leerink Partners dropped their price objective on Abbott Laboratories from $119.00 to $106.00 and set a “market perform” rating on the stock in a report on Tuesday, April 21st. Finally, Robert W. Baird assumed coverage on Abbott Laboratories in a research report on Wednesday, July 1st. They issued an “outperform” rating and a $121.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.42.

Abbott Laboratories Stock Down 0.8%

ABT stock opened at $95.12 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The company’s 50-day moving average price is $89.15 and its 200 day moving average price is $103.53. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $137.49. The company has a market cap of $165.68 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.65 and a beta of 0.61.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results 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. The company had revenue of $11.16 billion during the quarter, compared to the consensus estimate of $10.99 billion. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last 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, research analysts expect that Abbott Laboratories will post 5.48 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors 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%.

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.