Bank of America 13F: Cuts Abbott Laboratories (ABT) Stake by $50M
A recent SEC filing shows Bank of America trimmed its investment in Abbott Laboratories during the period.
Reviewed by automated data checks against the source filing. How we make and check alerts
Bank of America sold 551,015 shares from its stake in Abbott Laboratories ($ABT), a 2.78% decrease, according to a 13F filing with the SEC dated May 18, 2026. It reported 19,279,608 shares worth $1.75 billion at the end of the quarter.
Since the filing, $ABT is down 1.4% after 1 week, up 0.7% after 1 month and up 20.9% to date (from the $86.75 close on May 18, 2026).
ABT
Abbott Laboratories
Key Points
- Bank of America trimmed its stake in Abbott Laboratories NYSE: ABT by 2.8%, selling 551,015 shares to finish the period with 19,279,608 shares valued at about $1.75 billion.
- The stock trades below its moving averages with a spot price of $90.90 on Friday, well under its 52-week peak of $132.03.
- Wall Street maintains a strong buy consensus with an average target price of $120.72, backed by recent updates from firms like TD Cowen and Barclays.
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Bank of America Reduces Abbott Laboratories Position
Bank of America trimmed its holdings in Abbott Laboratories NYSE: ABT by 2.8% during the period, according to a Form 13F filed with the SEC. The bank parted ways with 551,015 shares, leaving it with a total of 19,279,608 shares. Based on market prices around the filing period, that remaining stake carried a value of approximately $1.75 billion. This backward-looking report captures portfolio choices from earlier in the year and may not reflect the institution's exact share count today.
Stock Valuation and Price Context
Abbott Laboratories shares traded hands at $90.90 on Friday, sitting well below their 52-week high of $132.03 and closer to the lower end of their $81.97 floor. The medical device maker carries a price-to-earnings ratio of 33.8 alongside a forward P/E of 17.3 based on upcoming earnings estimates. Its market capitalization stands near $181.14 billion, reflecting its massive footprint in healthcare.
Recent Earnings Performance
The healthcare giant reported $46.58 billion in trailing revenue, supported by a revenue growth rate of 13.0%. Profitability remains solid with a net profit margin of 11.6% and a return on equity of 10.6%. Earnings per share over the period reached $3.10. Investors can expect the company's next financial update when management releases earnings on October 21, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
8 target cuts vs 0 raises.
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EPS & revenue
EPS met estimates. Revenue beat estimates by 0.5%.
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Profit surprise
EBITDA missed by 43 percent. Operating income missed by 19 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
8 target cuts.
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Earnings quality
Gross margin up 3.7 points. Positive free cash flow.
Earnings Call Summary
Abbott completed its $2.4 billion acquisition of Exact Sciences on March 23 and is integrating the cancer diagnostics business into its portfolio. First quarter results came in slightly ahead, with sales of $11.2 billion, up 3.7 percent on a comparable basis, though the respiratory season was weaker than expected. The company is seeing early signs of volume recovery in Nutrition after price increases, expects Core Lab Diagnostics to accelerate, and is launching new cardiac devices like the Volt pulsed field ablation catheter and TactiFlex Duo. Management remains confident in second half acceleration but is being cautious on near term market conditions.
Guidance Abbott cut full year earnings guidance from $5.68 to $5.48 per share, reflecting $0.20 of dilution from the Exact Sciences acquisition. The company guided full year revenue growth of 6.5 percent to 7.5 percent on a comparable basis including Exact Sciences. For the second quarter, Abbott expects earnings of $1.25 to $1.31 per share. Management said they are being conservative on respiratory season assumptions and expect acceleration in the second half driven by Nutrition recovery, Core Lab Diagnostics growth, and Exact Sciences integration.
Severe negative reset. The report materially damaged the forward outlook and likely forces major downward revisions.
Analysts Set New Price Targets
Wall Street firms have kept up a steady stream of coverage on the medical device maker following its earlier results. On October 16, 2026, TD Cowen reiterated its buy rating on the stock with a $135.00 price target, matching earlier notes from the firm in August and September. Earlier in October, Barclays initiated coverage with an overweight rating and a $120.00 price target, while Rothschild & Co upgraded its rating to buy with a $127.00 price target on October 2, 2026. Citigroup and Wolfe Research also adjusted their views during August, contributing to a consensus strong buy recommendation and a mean price target of $120.72 across 26 analyst opinions.
Inside Abbott Laboratories
Headquartered in Abbott Park, Illinois, Abbott Laboratories discovers, develops, manufactures, and sells health care products globally across four main operating divisions. These segments cover medical devices, diagnostic systems, nutritional goods, and established pharmaceutical therapies. The firm employs roughly 122,000 workers worldwide and has paid dividends consistently while expanding its medical technology offerings.
What to Watch at Abbott Laboratories
Market participants tracking Bank of America or peer financial institutions will look to upcoming quarterly 13F disclosures for further portfolio adjustments. Meanwhile, attention turns toward the company's next earnings report slated for October 21, 2026, which will provide fresh data on revenue and device sales. Institutional filings remain historical snapshots of past activity rather than real-time trading signals.
Related Filing Alerts
Source: Bank of America's 13F filing on $ABT (May 18, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: Bank of America 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts