Mattern Capital Management LLC Grows Stock Position in Abbott Laboratories $ABT

Key Points

• Mattern Capital Management LLC increased its Abbott Laboratories stake by 48.8% in the first quarter, buying 34,719 more shares and bringing its total holding to 105,888 shares worth about $10.9 million.
• Several analysts have recently trimmed their price targets on Abbott, but the stock still carries a Moderate Buy consensus rating with an average target price of $118.42.
• Abbott reported solid quarterly results, with EPS of $1.15 topping estimates and revenue of $11.16 billion beating expectations; the company also announced a quarterly dividend of $0.63 per share, yielding about 2.7%.

Mattern Capital Management LLC raised its position in Abbott Laboratories (NYSE:ABT - Free Report) by 48.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,888 shares of the healthcare product maker's stock after buying an additional 34,719 shares during the quarter. Abbott Laboratories comprises about 1.3% of Mattern Capital Management LLC's holdings, making the stock its 20th largest position. Mattern Capital Management LLC's holdings in Abbott Laboratories were worth $10,872,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on ABT shares. Argus dropped their price target on shares of Abbott Laboratories from $140.00 to $125.00 and set a "buy" rating on the stock in a research note on Tuesday, April 21st. Stifel Nicolaus lowered their target price on shares of Abbott Laboratories from $145.00 to $120.00 and set a "buy" rating on the stock in a report on Friday, April 17th. BTIG Research restated a "buy" rating and set a $131.00 target price on shares of Abbott Laboratories in a research report on Monday, April 27th. TD Cowen cut their price target on Abbott Laboratories from $137.00 to $115.00 and set a "buy" rating for the company in a report on Friday, April 17th. Finally, Oppenheimer decreased their price objective on Abbott Laboratories from $132.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, April 17th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $118.42.

Abbott Laboratories Trading Down 2.0%

Abbott Laboratories stock opened at $92.01 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.39. Abbott Laboratories has a fifty-two week low of $81.97 and a fifty-two week high of $137.49. The stock has a market cap of $160.27 billion, a P/E ratio of 25.77, a PEG ratio of 1.62 and a beta of 0.61. The firm's fifty day moving average price is $89.23 and its 200-day moving average price is $102.86.

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

Abbott Laboratories Announces Dividend

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

Insider Activity at Abbott Laboratories

In related news, Director Daniel J. Starks purchased 10,000 shares of the business's 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 purchase, the director directly owned 6,751,103 shares in the company, valued at approximately $625,489,692.95. This represents a 0.15% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Philip P. Boudreau purchased 2,200 shares of the firm's stock in a transaction dated Thursday, April 23rd. The stock was bought at an average cost of $91.50 per share, for a total transaction of $201,300.00. Following the acquisition, the chief financial officer directly owned 2,200 shares in the company, valued at approximately $201,300. The trade was 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.

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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