Rep. Gilbert Ray Cisneros, Jr. Sells Off Shares of Abbott Laboratories (NYSE:ABT)

Washington, D.C.—Fresh financial-disclosure paperwork shows that Representative Gilbert Ray Cisneros, Jr. (D-CA) trimmed his exposure to Abbott Laboratories last month, selling between $1,001 and $15,000 worth of the health-care giant’s stock on February 10. The transaction, executed through the lawmaker’s “150 MAIN STREET TRUST > BANK OF AMERICA” brokerage account, was formally reported on March 9.

The move comes as Abbott shares have retreated roughly 22 percent from their 52-week high of $139.06 set last summer. The stock closed Thursday at $108.18, down $2.07 on the session and trading below both its 50-day ($115.25) and 200-day ($124.19) moving averages. Volume of 10.8 million shares was slightly above the daily average, reflecting heightened investor attention after a wave of post-earnings analyst downgrades.

Abbott, which manufactures everything from infant formula to cardiac stents, posted fourth-quarter earnings on January 22 that matched Wall Street’s $1.50 per-share forecast. Revenue of $11.46 billion missed the consensus mark of $11.80 billion, though the top line still grew 4.4 percent year-over-year. Management guided 2026 earnings to a range of $5.55–$5.80 per share and reiterated a quarterly dividend of $0.63, payable May 15 to shareholders of record April 15.

Cisneros, a former Navy supply officer who began representing California’s 31st District in January 2025, has not publicly commented on the sale. The freshman lawmaker is already campaigning for a second term in 2026. His financial-disclosure history shows no other Abbott trades within the past 12 months.

Abbott insiders have also been lightening up. Senior Vice President Eric Shroff and Executive Vice President Daniel Gesua Sive Salvadori each sold blocks of stock on March 2 at $115.58 per share, collectively unloading 1,594 shares worth roughly $184,000. Over the past quarter, corporate insiders have divested 3,055 shares valued at $353,097, leaving them with a 0.46 percent stake in the $188 billion company.

Wall Street remains largely constructive on Abbott despite the recent pullback. Fifteen analysts rate the stock a Buy, two call it a Strong Buy, and four maintain Hold ratings. The consensus price target stands at $136.16, implying roughly 26 percent upside from current levels.

Institutional investors, which control three-quarters of the float, were net buyers during the third quarter. Charles Schwab Trust Co. nearly doubled its position, while Mawer Investment Management added 70,122 shares, lifting its holdings above 1.25 million shares.

For now, traders will watch whether Cisneros’s modest exit—and the broader insider selling—presages additional weakness or merely represents routine portfolio rebalancing amid a volatile macro backdrop.