Cidel Asset Management Inc. Reduces Holdings in Abbott Laboratories $ABT

Cidel Asset Management Inc. decreased its position in shares of Abbott Laboratories (NYSE:ABT) by 44.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 227,603 shares of the healthcare product maker’s stock after selling 184,792 shares during the period. Cidel Asset Management Inc.’s holdings in Abbott Laboratories were worth $20,653,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in Abbott Laboratories by 9,127.1% during the 2nd quarter. California State Teachers Retirement System now owns 246,828,861 shares of the healthcare product maker’s stock valued at $22,397,251,000 after purchasing an additional 244,153,804 shares during the last quarter. BlackRock Inc. lifted its stake in Abbott Laboratories by 4.6% in the second quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock worth $13,843,610,000 after purchasing an additional 6,769,518 shares during the last quarter. State Street Corp boosted its position in shares of Abbott Laboratories by 2.1% during the fourth quarter. State Street Corp now owns 79,853,782 shares of the healthcare product maker’s stock valued at $10,004,880,000 after buying an additional 1,627,791 shares during the period. Capital International Investors grew its stake in shares of Abbott Laboratories by 2.6% during the fourth quarter. Capital International Investors now owns 63,229,445 shares of the healthcare product maker’s stock valued at $7,922,519,000 after buying an additional 1,614,706 shares during the last quarter. Finally, J. Stern & Co. LLP grew its stake in shares of Abbott Laboratories by 12,439.6% during the fourth 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 buying an additional 39,005,451 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 2.5%

Shares of NYSE ABT opened at $105.66 on Wednesday. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $137.49. The firm has a market capitalization of $182.82 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.01 and a beta of 0.59. The stock has a 50 day moving average price of $105.04 and a 200 day moving average price of $99.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 EPS for the quarter, topping the consensus estimate of $1.28 by $0.03. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%.The company had revenue of $12.59 billion for the quarter, compared to the consensus estimate of $12.52 billion. During the same period last year, the business posted $1.26 EPS. Abbott Laboratories’s quarterly revenue was up 13.0% on a year-over-year basis. 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. Sell-side analysts expect that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Wednesday, July 15th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Wednesday, July 15th. Abbott Laboratories’s payout ratio is presently 81.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ABT shares. Wolfe Research raised Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price target for the company in a research note on Thursday, August 13th. The Goldman Sachs Group reduced their target price on Abbott Laboratories from $121.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Royal Bank Of Canada reiterated an “outperform” rating and set a $130.00 target price on shares of Abbott Laboratories in a research report on Friday, July 17th. BTIG Research boosted their target price on shares of Abbott Laboratories from $131.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Abbott Laboratories from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.50.

About Abbott Laboratories

Abbott Laboratories (NYSE: ABT) is a global healthcare company that develops, manufactures and sells medical products and technologies. Its operations span four principal areas: medical devices, diagnostics, established pharmaceutical products and nutrition. Abbott serves healthcare providers, institutions and consumers in markets around the world.

The company’s medical device portfolio includes products for cardiovascular care, diabetes management and other specialties. Its diagnostics business provides laboratory systems, tests and point-of-care solutions, while its nutrition products include infant, child and adult nutritional offerings sold under brands such as Similac, Ensure and Pedialyte.