Canandaigua National Bank & Trust Co. Purchases New Holdings in Abbott Laboratories $ABT

Canandaigua National Bank & Trust Co. acquired a new position in Abbott Laboratories (NYSE:ABT) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 56,284 shares of the healthcare product maker’s stock, valued at approximately $5,107,000.

Other institutional investors have also recently bought and sold shares of the company. J. Stern & Co. LLP boosted its position in shares of Abbott Laboratories by 12,439.6% during the 4th quarter. J. Stern & Co. LLP now owns 39,319,009 shares of the healthcare product maker’s stock valued at $4,926,279,000 after acquiring an additional 39,005,451 shares in the last quarter. Norges Bank acquired a new stake in shares of Abbott Laboratories during the fourth quarter worth approximately $2,938,892,000. Arrowstreet Capital Limited Partnership boosted its stake in Abbott Laboratories by 217.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,522,222 shares of the healthcare product maker’s stock worth $566,967,000 after purchasing an additional 3,780,402 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Abbott Laboratories by 303.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,429,571 shares of the healthcare product maker’s stock valued at $454,784,000 after acquiring an additional 3,330,368 shares in the last quarter. Finally, Ninety One UK Ltd acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $336,815,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stifel Nicolaus cut their target price on shares of Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. JPMorgan Chase & Co. raised their price target on Abbott Laboratories from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Jefferies Financial Group decreased their price objective on shares of Abbott Laboratories from $145.00 to $135.00 and set a “buy” rating for the company in a report on Friday, April 17th. Bank of America dropped their price target on Abbott Laboratories from $120.00 to $102.00 in a research report on Friday, June 12th. Finally, Evercore dropped their price objective on shares of Abbott Laboratories from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $118.17.

Abbott Laboratories Price Performance

NYSE:ABT opened at $105.58 on Wednesday. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $137.49. The company has a market cap of $182.69 billion, a P/E ratio of 34.17, a P/E/G ratio of 2.07 and a beta of 0.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. The stock’s 50-day simple moving average is $94.23 and its 200 day simple moving average is $100.20.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results 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. The firm had revenue of $12.59 billion during the quarter, compared to the consensus estimate of $12.52 billion. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%.The business’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company 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. As a group, sell-side analysts forecast that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Wednesday, July 15th will be issued 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 payout ratio is presently 81.55%.

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.