First Horizon Corp Has $9.37 Million Position in Abbott Laboratories $ABT

Key Points

• First Horizon Corp increased its stake in Abbott Laboratories by 38.4% in the first quarter, ending with 91,246 shares worth about $9.37 million.
• Abbott Laboratories reported better-than-expected quarterly results, with EPS of $1.15 versus $1.14 expected and revenue of $11.16 billion, up 7.8% year over year.
• The company announced a quarterly dividend of $0.63 per share, implying an annualized payout of $2.52 and a 2.7% yield; several analysts also maintained or reiterated bullish ratings, with an average target price of $118.42.

First Horizon Corp grew its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 38.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,246 shares of the healthcare product maker's stock after acquiring 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 SEC filing.

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

Abbott Laboratories Trading Down 1.0%

Shares of ABT stock opened at $94.25 on Friday. The firm has a market capitalization of $164.16 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. Abbott Laboratories has a 1 year low of $81.97 and a 1 year high of $137.49. The firm's fifty day simple moving average is $89.16 and its 200 day simple moving average is $103.31. 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 - Get Free Report) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $10.99 billion. During the same period in the prior year, the firm earned $1.09 EPS. The business's revenue was up 7.8% on a year-over-year basis. 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. As a group, sell-side analysts predict that Abbott Laboratories will post 5.48 EPS for the current year.

Abbott Laboratories Dividend Announcement

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

Insider Activity

In other news, Director Daniel J. Starks purchased 10,000 shares of the business's stock in a transaction on Monday, April 27th. The stock was purchased at an average price of $92.65 per share, with a total value of $926,500.00. Following the acquisition, the director directly owned 6,751,103 shares in the company, valued at approximately $625,489,692.95. The trade was a 0.15% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Philip P. Boudreau acquired 2,200 shares of Abbott Laboratories stock in a transaction on Thursday, April 23rd. The stock was purchased at an average price of $91.50 per share, with a total value of $201,300.00. Following the transaction, the chief financial officer directly owned 2,200 shares in the company, valued at approximately $201,300. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. BTIG Research reaffirmed a "buy" rating and issued a $131.00 price objective on shares of Abbott Laboratories in a research note on Monday, April 27th. Sanford C. Bernstein cut their target price on Abbott Laboratories from $125.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, April 17th. Bank of America reduced their price target on Abbott Laboratories from $120.00 to $102.00 in a research report on Friday, June 12th. Benchmark decreased their price target 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 lowered their price objective on Abbott Laboratories from $135.00 to $130.00 and set an "outperform" rating on the stock in a report 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $118.42.

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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