Fifth Third Bancorp Has $195.75 Million Holdings in Abbott Laboratories $ABT

Key Points

• Fifth Third Bancorp increased its Abbott Laboratories stake by 49.1% in Q1, ending with 1.91 million shares worth about $195.7 million.
• Abbott reported Q1 earnings of $1.15 per share, topping estimates, on $11.16 billion in revenue, which was up 7.8% year over year.
• The company also declared a quarterly dividend of $0.63 per share, implying an annualized yield of about 2.7%.

Fifth Third Bancorp boosted its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 49.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,906,560 shares of the healthcare product maker's stock after acquiring an additional 628,021 shares during the period. Fifth Third Bancorp owned 0.11% of Abbott Laboratories worth $195,746,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Cornerstone Financial Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth about $25,000. MidAtlantic Capital Management Inc. bought a new position in Abbott Laboratories during the fourth quarter worth about $25,000. Purpose Unlimited Inc. bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $25,000. Portfolio Resources Advisor Group Inc. acquired a new position in shares of Abbott Laboratories in the 4th quarter worth approximately $26,000. Finally, Abound Financial LLC bought a new stake in Abbott Laboratories in the fourth quarter valued at $26,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays cut their price target on shares of Abbott Laboratories from $144.00 to $143.00 and set an "overweight" rating for the company in a report on Monday, April 20th. Weiss Ratings raised Abbott Laboratories from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday. Oppenheimer cut their price target on Abbott Laboratories from $132.00 to $115.00 and set an "outperform" rating for the company in a report on Friday, April 17th. Piper Sandler restated an "overweight" rating and issued a $115.00 price objective on shares of Abbott Laboratories in a research report on Monday, June 22nd. Finally, Citigroup decreased their price target on shares of Abbott Laboratories from $136.00 to $108.00 and set a "buy" rating on the stock in a research note on Friday, April 17th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $118.42.

Abbott Laboratories Trading Down 0.5%

Shares of NYSE:ABT traded down $0.42 during trading on Friday, hitting $93.97. 6,911,805 shares of the company's stock were exchanged, compared to its average volume of 12,569,929. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $137.49. The firm has a 50-day moving average price of $89.21 and a two-hundred day moving average price of $103.24. 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 cap of $163.69 billion, a P/E ratio of 26.32, a PEG ratio of 1.62 and a beta of 0.61.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.01. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The business had revenue of $11.16 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same period in the prior year, the business posted $1.09 earnings per share. Abbott Laboratories's revenue 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 predict that Abbott Laboratories will post 5.48 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend 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%.

Insider Buying and Selling at Abbott Laboratories

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

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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