Corbyn Investment Management Inc. MD Purchases 5,800 Shares of Abbott Laboratories $ABT

Corbyn Investment Management Inc. MD increased its position in Abbott Laboratories (NYSE:ABT) by 56.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 16,116 shares of the healthcare product maker’s stock after purchasing an additional 5,800 shares during the period. Corbyn Investment Management Inc. MD’s holdings in Abbott Laboratories were worth $1,655,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau acquired 2,200 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were acquired at an average cost of $91.50 per share, with a total value of $201,300.00. Following the transaction, the chief financial officer owned 2,200 shares of the company’s stock, valued at $201,300. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Daniel J. Starks bought 10,000 shares of the business’s stock in a transaction on Monday, April 27th. The shares were acquired at an average price of $92.65 per share, for a total transaction of $926,500.00. Following the completion of the purchase, the director 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 disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Bank of America reduced their target price on Abbott Laboratories from $120.00 to $102.00 in a research note on Friday, June 12th. Wells Fargo & Company dropped their price target on Abbott Laboratories from $122.00 to $109.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. JPMorgan Chase & Co. reduced their price objective on shares of Abbott Laboratories from $123.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, April 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $115.00 target price on shares of Abbott Laboratories in a research report on Monday, June 22nd. Finally, Citigroup cut their target price 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 analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $118.42.

Abbott Laboratories Trading Down 0.2%

NYSE ABT opened at $95.25 on Monday. The firm has a market capitalization of $165.91 billion, a PE ratio of 26.68, a P/E/G ratio of 1.64 and a beta of 0.61. The stock’s 50 day moving average is $88.95 and its 200 day moving average is $104.18. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $137.49. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.56.

Abbott Laboratories (NYSE:ABT) last released its earnings results 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 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 analyst estimates of $10.99 billion. During the same period last year, the business earned $1.09 earnings per share. 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. Research analysts forecast that Abbott Laboratories will post 5.48 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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 $0.63 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $2.52 annualized dividend and a yield of 2.6%. Abbott Laboratories’s payout ratio is 70.59%.

Abbott Laboratories Company 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.