Axxcess Wealth Management LLC Sells 8,219 Shares of Abbott Laboratories $ABT

Axxcess Wealth Management LLC trimmed its stake in Abbott Laboratories (NYSE:ABT) by 5.8% in the 1st quarter, HoldingsChannel reports. The firm owned 132,444 shares of the healthcare product maker’s stock after selling 8,219 shares during the period. Axxcess Wealth Management LLC’s holdings in Abbott Laboratories were worth $13,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Freemont Management S.A. grew its holdings in shares of Abbott Laboratories by 197.2% in the fourth quarter. Freemont Management S.A. now owns 10,700 shares of the healthcare product maker’s stock valued at $1,341,000 after purchasing an additional 7,100 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in Abbott Laboratories during the fourth quarter valued at $116,580,000. Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of Abbott Laboratories in the 3rd quarter worth $185,640,000. Thrivent Financial for Lutherans grew its stake in shares of Abbott Laboratories by 24.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 246,586 shares of the healthcare product maker’s stock worth $30,931,000 after buying an additional 48,286 shares in the last quarter. Finally, Net Worth Advisory Group bought a new stake in shares of Abbott Laboratories in the 4th quarter worth about $1,366,000. 75.18% of the stock is currently owned by institutional investors.

Insider Activity at Abbott Laboratories

In related news, CFO Philip P. Boudreau purchased 2,200 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was purchased at an average price 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 of the company’s stock, valued at approximately $201,300. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel J. Starks acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average cost of $92.65 per share, for a total transaction of $926,500.00. Following the purchase, the director owned 6,751,103 shares of the company’s stock, valued at $625,489,692.95. This represents a 0.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ABT. Stifel Nicolaus lowered their price target on shares of Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a report on Friday, April 17th. Wells Fargo & Company decreased their price objective on Abbott Laboratories from $122.00 to $109.00 and set an “overweight” rating on the stock in a research report on Friday, April 17th. Royal Bank Of Canada lowered their price objective on Abbott Laboratories from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Bank of America cut their price objective on shares of Abbott Laboratories from $120.00 to $102.00 in a research report on Friday, June 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Abbott Laboratories from $123.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, April 17th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $118.42.

Abbott Laboratories Stock Performance

ABT stock opened at $95.80 on Wednesday. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $137.49. The firm has a market cap of $166.86 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 1.65 and a beta of 0.61. The business’s fifty day simple moving average is $89.10 and its two-hundred day simple moving average is $103.74. 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 (NYSE:ABT) last posted its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 EPS for the quarter, topping 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 net margin of 13.90% and a return on equity of 17.62%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 earnings per share. 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. Analysts predict that Abbott Laboratories will post 5.48 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.63 per share. 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 2.6%. Abbott Laboratories’s dividend payout ratio (DPR) is 70.59%.

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.