First Horizon Corp Acquires 25,296 Shares of Abbott Laboratories $ABT

First Horizon Corp grew its stake in Abbott Laboratories (NYSE:ABT) by 38.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,246 shares of the healthcare product maker’s stock after purchasing an additional 25,296 shares during the period. First Horizon Corp’s holdings in Abbott Laboratories were worth $9,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. acquired a new stake in shares of Abbott Laboratories in the 4th quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of Abbott Laboratories during the 4th quarter worth about $25,000. Purpose Unlimited Inc. bought a new position in Abbott Laboratories during the 4th quarter valued at about $25,000. Portfolio Resources Advisor Group Inc. acquired a new position in Abbott Laboratories in the fourth quarter valued at about $26,000. Finally, Abound Financial LLC acquired a new position in Abbott Laboratories in the fourth quarter valued at about $26,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Trading Down 1.0%

NYSE:ABT opened at $94.25 on Friday. The business’s 50-day moving average price is $89.16 and its two-hundred day moving average price is $103.31. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $137.49. The firm has a market capitalization of $164.16 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.64 and a beta of 0.61. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 EPS for the quarter, beating the consensus estimate of $1.14 by $0.01. The firm had revenue of $11.16 billion during the quarter, compared to the consensus estimate of $10.99 billion. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 earnings per share. Abbott Laboratories has set its FY 2026 guidance at 5.380-5.580 EPS and its Q2 2026 guidance at 1.250-1.310 EPS. On average, equities analysts expect that Abbott Laboratories will post 5.48 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Wednesday, July 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 70.59%.

Insider Activity

In other Abbott Laboratories news, CFO Philip P. Boudreau bought 2,200 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was purchased at an average cost of $91.50 per share, with a total value of $201,300.00. Following the completion of the purchase, the chief financial officer owned 2,200 shares in the company, valued at approximately $201,300. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel J. Starks purchased 10,000 shares of the stock in a transaction on Monday, April 27th. The stock was acquired at an average price of $92.65 per share, with a total value of $926,500.00. Following the completion of the acquisition, the director directly 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $115.00 price objective on shares of Abbott Laboratories in a report on Monday, June 22nd. Stifel Nicolaus cut their price objective on Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Mizuho reduced their price objective on Abbott Laboratories from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. Leerink Partners decreased their target price on Abbott Laboratories from $119.00 to $106.00 and set a “market perform” rating on the stock in a report on Tuesday, April 21st. Finally, UBS Group cut their price target on Abbott Laboratories from $158.00 to $135.00 and set a “buy” rating for the company in a report on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.42.

Abbott Laboratories Company 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.