Mattern Capital Management LLC Purchases 34,719 Shares of Abbott Laboratories $ABT

Mattern Capital Management LLC lifted its position in shares of Abbott Laboratories (NYSE:ABT) by 48.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 105,888 shares of the healthcare product maker’s stock after purchasing an additional 34,719 shares during the quarter. Abbott Laboratories accounts for about 1.3% of Mattern Capital Management LLC’s holdings, making the stock its 20th largest holding. Mattern Capital Management LLC’s holdings in Abbott Laboratories were worth $10,872,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at $25,000. Purpose Unlimited Inc. purchased a new stake in shares of Abbott Laboratories in the 4th quarter valued at $25,000. Portfolio Resources Advisor Group Inc. bought a new position in shares of Abbott Laboratories during the 4th quarter valued at $26,000. Finally, Abound Financial LLC purchased a new position in Abbott Laboratories in the 4th quarter worth $26,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 2.0%

Shares of NYSE ABT opened at $92.01 on Tuesday. The firm has a fifty day simple moving average of $89.23 and a two-hundred day simple moving average of $102.86. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $137.49. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $160.27 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.01. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The firm had revenue of $11.16 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. 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. Equities analysts expect that Abbott Laboratories will post 5.48 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.63 per share. The ex-dividend date is Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.7%. Abbott Laboratories’s dividend payout ratio is 70.59%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ABT. Piper Sandler reaffirmed an “overweight” rating and set a $115.00 price objective on shares of Abbott Laboratories in a research note on Monday, June 22nd. Raymond James Financial dropped their target price on Abbott Laboratories from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, April 17th. Wells Fargo & Company decreased their price target on Abbott Laboratories from $122.00 to $109.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Evercore lowered their price objective on Abbott Laboratories from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Finally, Benchmark dropped their price objective on Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, April 17th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $118.42.

Insider Activity at Abbott Laboratories

In other news, Director Daniel J. Starks bought 10,000 shares of the stock in a transaction dated Monday, April 27th. The stock was bought at an average price of $92.65 per share, for a total transaction of $926,500.00. Following the purchase, the director directly owned 6,751,103 shares in the company, valued at $625,489,692.95. This trade represents a 0.15% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Philip P. Boudreau purchased 2,200 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased at an average price of $91.50 per share, for a total transaction of $201,300.00. Following the completion of the transaction, the chief financial officer directly owned 2,200 shares of the company’s stock, valued at $201,300. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.46% of the stock is currently owned by corporate insiders.

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.