Evercore Wealth Management LLC Reduces Position in Abbott Laboratories $ABT

Evercore Wealth Management LLC lessened its stake in shares of Abbott Laboratories (NYSE:ABT) by 10.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,823 shares of the healthcare product maker’s stock after selling 10,086 shares during the quarter. Evercore Wealth Management LLC’s holdings in Abbott Laboratories were worth $9,017,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after buying an additional 4,755 shares during the period. Sivia Capital Partners LLC boosted its position in Abbott Laboratories by 3.5% during the second 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 last quarter. United Bank grew its stake in Abbott Laboratories by 7.4% in 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 raised its holdings 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 valued at $1,618,000 after acquiring an additional 1,428 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake 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 worth $195,267,000 after purchasing an additional 292,547 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Up 1.5%

Shares of ABT opened at $104.61 on Tuesday. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $137.49. The stock’s 50-day moving average is $91.95 and its two-hundred day moving average is $100.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.39 and a quick ratio of 1.01. The stock has a market cap of $182.20 billion, a PE ratio of 33.85, a P/E/G ratio of 2.00 and a beta of 0.61.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.03. The business had revenue of $12.51 billion during the quarter, compared to the consensus estimate of $12.52 billion. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.65%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 earnings per share. 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. Equities analysts forecast 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. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.63 per share. The ex-dividend date is Wednesday, July 15th. This represents a $2.52 annualized dividend and a yield of 2.4%. Abbott Laboratories’s dividend payout ratio is presently 81.55%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. TD Cowen reiterated a “buy” rating and set a $115.00 target price on shares of Abbott Laboratories in a research report on Friday, July 17th. Evercore dropped their price objective on shares of Abbott Laboratories from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Weiss Ratings lowered shares of Abbott Laboratories from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. UBS Group decreased their target price on shares of Abbott Laboratories from $158.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Finally, Leerink Partners lowered their target price on shares of Abbott Laboratories from $119.00 to $106.00 and set a “market perform” rating for the company in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.61.

Abbott Laboratories Company 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.