Citizens Financial Group Inc. RI Has $12.81 Million Stock Position in Abbott Laboratories $ABT

Citizens Financial Group Inc. RI reduced its stake in shares of Abbott Laboratories (NYSE:ABT) by 15.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 124,805 shares of the healthcare product maker’s stock after selling 22,595 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Abbott Laboratories were worth $12,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fifth Third Bancorp raised its position in shares of Abbott Laboratories by 49.1% during the first quarter. Fifth Third Bancorp now owns 1,906,560 shares of the healthcare product maker’s stock valued at $195,746,000 after buying an additional 628,021 shares during the last quarter. Glass Wealth Management Co LLC grew its position in Abbott Laboratories by 9.7% during the first quarter. Glass Wealth Management Co LLC now owns 2,815 shares of the healthcare product maker’s stock worth $289,000 after buying an additional 250 shares in the last quarter. Summit Financial Strategies Inc. increased its stake in Abbott Laboratories by 16.1% during the first quarter. Summit Financial Strategies Inc. now owns 9,465 shares of the healthcare product maker’s stock valued at $972,000 after acquiring an additional 1,312 shares during the period. Simplicity Wealth LLC raised its holdings in Abbott Laboratories by 35.8% in the 1st quarter. Simplicity Wealth LLC now owns 25,056 shares of the healthcare product maker’s stock valued at $2,572,000 after acquiring an additional 6,608 shares in the last quarter. Finally, Conning Inc. lifted its position in shares of Abbott Laboratories by 17.6% in the 1st quarter. Conning Inc. now owns 322,830 shares of the healthcare product maker’s stock worth $33,145,000 after acquiring an additional 48,362 shares during the period. Institutional investors own 75.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ABT. Daiwa Securities Group cut Abbott Laboratories from an “outperform” rating to a “neutral” rating and set a $92.00 price objective on the stock. in a research report on Wednesday, April 22nd. Raymond James Financial decreased their price target on shares of Abbott Laboratories from $130.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Leerink Partners dropped their price objective on shares of Abbott Laboratories from $119.00 to $106.00 and set a “market perform” rating for the company in a research note on Tuesday, April 21st. Sanford C. Bernstein reduced their price objective on shares of Abbott Laboratories from $125.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, April 17th. Finally, Jefferies Financial Group lowered their target price on shares of Abbott Laboratories from $145.00 to $135.00 and set a “buy” rating on the stock in a research note 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $118.42.

Abbott Laboratories Price Performance

NYSE:ABT traded down $0.42 during trading hours on Friday, reaching $93.97. The company had a trading volume of 6,911,805 shares, compared to its average volume of 12,569,929. 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 stock has a 50-day moving average of $89.21 and a two-hundred day moving average of $103.24. Abbott Laboratories has a one year low of $81.97 and a one year high of $137.49. The firm has a market capitalization of $163.69 billion, a PE ratio of 26.32, a PEG ratio of 1.62 and a beta of 0.61.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 EPS for the quarter, beating the consensus estimate of $1.14 by $0.01. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The company had revenue of $11.16 billion for the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter in the previous year, the company earned $1.09 EPS. The firm’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. Analysts forecast that Abbott Laboratories will post 5.48 earnings per share for the current 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. This represents a $2.52 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. Abbott Laboratories’s dividend payout ratio is currently 70.59%.

Insider Activity at Abbott Laboratories

In other news, CFO Philip P. Boudreau acquired 2,200 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was bought at an average price of $91.50 per share, with a total value of $201,300.00. Following the completion of the acquisition, the chief financial officer owned 2,200 shares in the company, valued at approximately $201,300. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel J. Starks bought 10,000 shares of Abbott Laboratories stock in a transaction dated Monday, April 27th. The stock was acquired at an average cost of $92.65 per share, for a total transaction of $926,500.00. Following the completion of the acquisition, the director directly owned 6,751,103 shares in the company, 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. Company insiders own 0.46% of the company’s stock.

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.