Mechanics Bank Trust Department Reduces Position in Abbott Laboratories $ABT

Mechanics Bank Trust Department cut its holdings in Abbott Laboratories (NYSE:ABT) by 19.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 41,933 shares of the healthcare product maker’s stock after selling 10,077 shares during the period. Mechanics Bank Trust Department’s holdings in Abbott Laboratories were worth $3,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABT. Brighton Jones LLC lifted its holdings in shares of Abbott Laboratories by 10.1% in the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock worth $5,850,000 after buying an additional 4,755 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Abbott Laboratories by 3.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,768 shares of the healthcare product maker’s stock worth $648,000 after acquiring an additional 162 shares during the period. United Bank increased its holdings in Abbott Laboratories by 7.4% during the 2nd quarter. United Bank now owns 29,004 shares of the healthcare product maker’s stock worth $3,945,000 after acquiring an additional 2,001 shares during the period. Main Street Financial Solutions LLC lifted its stake in Abbott Laboratories by 13.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,894 shares of the healthcare product maker’s stock worth $1,618,000 after purchasing an additional 1,428 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Abbott Laboratories by 25.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,435,683 shares of the healthcare product maker’s stock valued at $195,267,000 after purchasing an additional 292,547 shares in the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $105.68 on Thursday. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $137.49. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $182.86 billion, a P/E ratio of 34.20, a PEG ratio of 2.04 and a beta of 0.59. The stock’s 50 day moving average is $94.63 and its 200 day moving average is $100.07.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share 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 business had revenue of $12.59 billion during the quarter, compared to analyst estimates of $12.52 billion. During the same period last year, the business earned $1.26 EPS. Abbott Laboratories’s revenue was up 13.0% compared to the same quarter last year. 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, equities research analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

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 given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, July 15th. Abbott Laboratories’s dividend payout ratio is 81.55%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Daiwa Securities Group lowered Abbott Laboratories from an “outperform” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research note on Wednesday, April 22nd. Stifel Nicolaus lowered their price target on Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, April 17th. The Goldman Sachs Group dropped their price target on Abbott Laboratories from $121.00 to $113.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. UBS Group cut their price target on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. Finally, Argus reduced their price objective on Abbott Laboratories from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Abbott Laboratories has an average rating of “Moderate Buy” and a consensus price target of $118.17.

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.