Sumitomo Mitsui Trust Group Inc. Decreases Stake in Abbott Laboratories $ABT

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Abbott Laboratories (NYSE:ABT) by 5.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,808,243 shares of the healthcare product maker’s stock after selling 216,883 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Abbott Laboratories worth $390,992,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ABT. Resona Asset Management Co. Ltd. increased its position in shares of 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 purchasing an additional 11,056 shares during the last quarter. Lipe & Dalton lifted its position in shares of Abbott Laboratories by 39.2% during the 1st quarter. Lipe & Dalton now owns 1,420 shares of the healthcare product maker’s stock worth $146,000 after purchasing an additional 400 shares during the last quarter. Seelaus Asset Management LLC grew its stake in shares of Abbott Laboratories by 2.0% during the first quarter. Seelaus Asset Management LLC now owns 6,273 shares of the healthcare product maker’s stock worth $644,000 after purchasing an additional 125 shares in the last quarter. IAG Wealth Partners LLC increased its holdings in Abbott Laboratories by 43.1% in the first quarter. IAG Wealth Partners LLC now owns 531 shares of the healthcare product maker’s stock valued at $54,000 after buying an additional 160 shares during the last quarter. Finally, Staley Capital Advisers Inc. raised its stake in Abbott Laboratories by 11.8% in the first quarter. Staley Capital Advisers Inc. now owns 7,457 shares of the healthcare product maker’s stock valued at $766,000 after buying an additional 788 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Mizuho decreased their price target on Abbott Laboratories from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Friday, April 17th. The Goldman Sachs Group cut their target price on Abbott Laboratories from $121.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Royal Bank Of Canada decreased their target price 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. Jefferies Financial Group lowered their price target on Abbott Laboratories from $145.00 to $135.00 and set a “buy” rating for the company in a report on Friday, April 17th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Abbott Laboratories from $123.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, April 17th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.42.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, Director Daniel J. Starks bought 10,000 shares of the stock in a transaction dated Monday, April 27th. The shares were acquired at an average cost of $92.65 per share, for a total transaction of $926,500.00. Following the completion of the transaction, the director owned 6,751,103 shares in the company, valued at approximately $625,489,692.95. The trade was a 0.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Philip P. Boudreau bought 2,200 shares of the business’s stock in a transaction dated Thursday, April 23rd. The stock was acquired at an average cost 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. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.46% of the stock is currently owned by corporate insiders.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $95.12 on Thursday. The stock’s 50-day moving average is $89.15 and its two-hundred day moving average is $103.53. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.39. Abbott Laboratories has a 1 year low of $81.97 and a 1 year high of $137.49. The firm has a market cap of $165.68 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.65 and a beta of 0.61.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share 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 the consensus estimate of $10.99 billion. Abbott Laboratories had a return on equity of 17.62% and a net margin of 13.90%.The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business 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. Analysts predict that Abbott Laboratories will post 5.48 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be paid a $0.63 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.6%. Abbott Laboratories’s payout ratio is currently 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.