Kornitzer Capital Management Inc. KS Sells 7,518 Shares of Abbott Laboratories $ABT

Kornitzer Capital Management Inc. KS decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 2.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 369,760 shares of the healthcare product maker’s stock after selling 7,518 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Abbott Laboratories were worth $37,963,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. DMC Group LLC lifted its stake in shares of Abbott Laboratories by 4.7% during the first quarter. DMC Group LLC now owns 3,033 shares of the healthcare product maker’s stock valued at $311,000 after acquiring an additional 136 shares during the period. GreatBanc Trust CO increased its position in Abbott Laboratories by 3.4% in the first quarter. GreatBanc Trust CO now owns 3,790 shares of the healthcare product maker’s stock worth $389,000 after purchasing an additional 125 shares during the period. Meadow Creek Wealth Advisors LLC raised its holdings in Abbott Laboratories by 12.8% during the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 4,141 shares of the healthcare product maker’s stock worth $425,000 after purchasing an additional 471 shares during the last quarter. Peterson Wealth Services boosted its stake in shares of Abbott Laboratories by 22.8% in the 1st quarter. Peterson Wealth Services now owns 2,023 shares of the healthcare product maker’s stock valued at $208,000 after purchasing an additional 376 shares during the last quarter. Finally, Griffin Asset Management Inc. grew its position in shares of Abbott Laboratories by 10.1% during the 1st quarter. Griffin Asset Management Inc. now owns 65,442 shares of the healthcare product maker’s stock worth $6,719,000 after buying an additional 6,023 shares during the period. 75.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ABT shares. Raymond James Financial dropped their price target on shares of Abbott Laboratories from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Sanford C. Bernstein dropped their target price on shares of Abbott Laboratories from $125.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. BTIG Research reissued a “buy” rating and issued a $131.00 price target on shares of Abbott Laboratories in a research note on Monday, April 27th. JPMorgan Chase & Co. decreased their price objective on Abbott Laboratories from $123.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Finally, Stifel Nicolaus dropped their price objective on Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a report on Friday, April 17th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $118.42.

Abbott Laboratories Stock Down 0.5%

Shares of NYSE ABT traded down $0.42 during mid-day trading on Friday, reaching $93.97. 6,911,805 shares of the company’s stock were exchanged, compared to its average volume of 12,569,929. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $137.49. 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 firm has a market capitalization of $163.69 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.63 and a beta of 0.61. The business has a fifty day simple moving average of $89.21 and a 200 day simple moving average of $103.24.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.01. The business had revenue of $11.16 billion during the quarter, compared to analyst estimates of $10.99 billion. Abbott Laboratories had a return on equity of 17.62% and a net margin of 13.90%.Abbott Laboratories’s quarterly revenue was up 7.8% compared to the same quarter last year. 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. As a group, equities analysts expect that Abbott Laboratories will post 5.48 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 70.59%.

Insiders Place Their Bets

In related news, Director Daniel J. Starks acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average cost of $92.65 per share, with a total value of $926,500.00. Following the transaction, the director owned 6,751,103 shares of the company’s stock, valued at $625,489,692.95. The trade was a 0.15% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Philip P. Boudreau bought 2,200 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, April 23rd. The stock was bought at an average cost of $91.50 per share, with a total value of $201,300.00. Following the completion of the purchase, the chief financial officer owned 2,200 shares in the company, valued at approximately $201,300. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 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.