PNC Financial Services Group Inc. Sells 66,175 Shares of Abbott Laboratories $ABT

PNC Financial Services Group Inc. decreased its holdings in Abbott Laboratories (NYSE:ABT) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,597,646 shares of the healthcare product maker’s stock after selling 66,175 shares during the quarter. PNC Financial Services Group Inc. owned about 0.26% of Abbott Laboratories worth $472,040,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ABT. Freemont Management S.A. lifted its position in Abbott Laboratories by 197.2% in the 4th quarter. Freemont Management S.A. now owns 10,700 shares of the healthcare product maker’s stock valued at $1,341,000 after acquiring an additional 7,100 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Abbott Laboratories in the 4th quarter worth $116,580,000. Thrivent Financial for Lutherans grew its holdings in shares of Abbott Laboratories by 24.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 246,586 shares of the healthcare product maker’s stock worth $30,931,000 after acquiring an additional 48,286 shares during the period. Net Worth Advisory Group purchased a new stake in Abbott Laboratories during the fourth quarter valued at $1,366,000. Finally, Mn Services Vermogensbeheer B.V. lifted its holdings in Abbott Laboratories by 2.1% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 671,743 shares of the healthcare product maker’s stock valued at $84,163,000 after acquiring an additional 13,543 shares during the period. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 2.0%

NYSE ABT opened at $99.67 on Wednesday. Abbott Laboratories has a 52 week low of $81.97 and a 52 week 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 company has a market capitalization of $173.61 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 2.03 and a beta of 0.61. The stock’s 50-day moving average price is $90.58 and its 200-day moving average price is $101.66.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. The company had revenue of $12.51 billion during the quarter, compared to the consensus estimate of $12.52 billion. Abbott Laboratories had a return on equity of 17.65% and a net margin of 11.65%.The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 EPS. 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. On average, equities research analysts predict that Abbott Laboratories will post 5.51 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently declared 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, July 15th. Abbott Laboratories’s dividend payout ratio is presently 81.55%.

Insiders Place Their Bets

In other news, Director Daniel J. Starks bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average price of $92.65 per share, with a total value of $926,500.00. Following the acquisition, the director owned 6,751,103 shares of the company’s stock, valued at approximately $625,489,692.95. This represents a 0.15% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Philip P. Boudreau purchased 2,200 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were 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 owned 2,200 shares of the company’s stock, valued at approximately $201,300. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of recent research reports. Raymond James Financial cut their price target on Abbott Laboratories from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Friday, April 17th. Stifel Nicolaus dropped their price objective on shares of Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, April 17th. Mizuho cut their target price on shares of Abbott Laboratories from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Friday, April 17th. Sanford C. Bernstein reduced their target price 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, BTIG Research lifted their price target on shares of Abbott Laboratories from $131.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average target price of $118.61.

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.