Abbott Laboratories $ABT Shares Acquired by Investment Management Corp of Ontario

Key Points

• Investment Management Corp of Ontario boosted its Abbott Laboratories stake by 90.8% in the fourth quarter, ending with 155,915 shares valued at about $19.5 million.
• Abbott reported strong quarterly results, with EPS of $1.15 and revenue of $11.16 billion, both slightly ahead of analyst expectations. Revenue also rose 7.8% year over year.
• The company declared a quarterly dividend of $0.63 per share, implying an annualized payout of $2.52 and a yield of 2.9%.

Investment Management Corp of Ontario increased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 90.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 155,915 shares of the healthcare product maker's stock after acquiring an additional 74,219 shares during the period. Investment Management Corp of Ontario's holdings in Abbott Laboratories were worth $19,535,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its stake in Abbott Laboratories by 10.1% in the 4th quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker's stock valued at $5,850,000 after acquiring an additional 4,755 shares during the period. Sivia Capital Partners LLC grew its stake in Abbott Laboratories by 3.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,768 shares of the healthcare product maker's stock valued at $648,000 after acquiring an additional 162 shares during the period. United Bank boosted its holdings in Abbott Laboratories by 7.4% in the 2nd quarter. United Bank now owns 29,004 shares of the healthcare product maker's stock worth $3,945,000 after buying an additional 2,001 shares during the last quarter. Main Street Financial Solutions LLC boosted its holdings in Abbott Laboratories by 13.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,894 shares of the healthcare product maker's stock worth $1,618,000 after buying an additional 1,428 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Abbott Laboratories by 25.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,435,683 shares of the healthcare product maker's stock worth $195,267,000 after purchasing an additional 292,547 shares during the last quarter. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

Shares of Abbott Laboratories stock opened at $88.34 on Thursday. The business's fifty day simple moving average is $90.65 and its 200-day simple moving average is $107.01. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $139.06. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm has a market cap of $153.87 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 1.56 and a beta of 0.63.

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

Abbott Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Wednesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is currently 70.59%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ABT shares. JPMorgan Chase & Co. lowered their target price on shares of Abbott Laboratories from $123.00 to $110.00 and set an "overweight" rating on the stock in a research note on Friday, April 17th. TD Cowen lowered their target price on Abbott Laboratories from $137.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, April 17th. Weiss Ratings cut Abbott Laboratories from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday. Stifel Nicolaus cut their target price 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. Finally, Royal Bank Of Canada reduced their price target on Abbott Laboratories from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $118.30.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau purchased 2,200 shares of the stock in a transaction dated Thursday, April 23rd. The stock was acquired at an average cost 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 in the company, valued at approximately $201,300. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel J. Starks bought 10,000 shares of the company's stock in a transaction on Monday, April 27th. The stock was purchased at an average cost of $92.65 per share, with a total value of $926,500.00. Following the completion of the transaction, the director owned 6,751,103 shares in the company, valued at $625,489,692.95. This represents a 0.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.46% of the company's stock.

Abbott Laboratories 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.

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