Principal Financial Group Inc. Sells 108,313 Shares of Abbott Laboratories $ABT

Principal Financial Group Inc. decreased its position in Abbott Laboratories (NYSE:ABT) by 3.0% during the 1st quarter, HoldingsChannel reports. The fund owned 3,499,503 shares of the healthcare product maker’s stock after selling 108,313 shares during the quarter. Principal Financial Group Inc.’s holdings in Abbott Laboratories were worth $359,294,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $25,000. Cornerstone Financial Management LLC bought a new stake in shares of Abbott Laboratories during the 4th quarter worth about $25,000. Purpose Unlimited Inc. bought a new stake in Abbott Laboratories in the 4th quarter valued at $25,000. Portfolio Resources Advisor Group Inc. acquired a new stake in Abbott Laboratories in the 4th quarter worth about $26,000. Finally, Abound Financial LLC bought a new stake in Abbott Laboratories in the 4th quarter valued at about $26,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $115.00 target price on shares of Abbott Laboratories in a report on Monday, June 22nd. Wells Fargo & Company cut their price objective on shares of Abbott Laboratories from $122.00 to $109.00 and set an “overweight” rating for the company in a research report on Friday, April 17th. UBS Group reduced their price objective on shares of Abbott Laboratories from $158.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Jefferies Financial Group decreased their target price on shares of Abbott Laboratories from $145.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, April 17th. Finally, Barclays cut their price target on shares of Abbott Laboratories from $144.00 to $143.00 and set an “overweight” rating for the company in a report on Monday, April 20th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $118.42.

Abbott Laboratories Stock Performance

Abbott Laboratories stock opened at $92.01 on Tuesday. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $137.49. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $89.23 and its two-hundred day moving average price is $102.86. The stock has a market cap of $160.27 billion, a PE ratio of 25.77, a P/E/G ratio of 1.62 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 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.01. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The firm had revenue of $11.16 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. 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, analysts expect that Abbott Laboratories will post 5.48 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be given 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 2.7%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 70.59%.

Insiders Place Their Bets

In related news, Director Daniel J. Starks bought 10,000 shares of the firm’s stock in a transaction on Monday, April 27th. The shares were purchased at an average price of $92.65 per share, with a total value of $926,500.00. Following the completion of the purchase, the director owned 6,751,103 shares in the company, valued at $625,489,692.95. This represents a 0.15% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Philip P. Boudreau purchased 2,200 shares of the company’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 directly owned 2,200 shares in the company, valued at $201,300. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.46% of the company’s stock.

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.