SouthState Bank Corp Has $4.79 Million Holdings in Abbott Laboratories $ABT

SouthState Bank Corp cut its holdings in Abbott Laboratories (NYSE:ABT) by 15.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,638 shares of the healthcare product maker’s stock after selling 8,363 shares during the period. SouthState Bank Corp’s holdings in Abbott Laboratories were worth $4,788,000 as of its most recent filing with the SEC.

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

Abbott Laboratories Trading Down 3.4%

Shares of NYSE ABT opened at $88.95 on Wednesday. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $137.49. The company has a 50-day moving average of $89.27 and a two-hundred day moving average of $102.61. The company has a market cap of $154.94 billion, a PE ratio of 24.92, a P/E/G ratio of 1.59 and a beta of 0.61. 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) last released its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 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 business had revenue of $11.16 billion for the quarter, compared to analysts’ expectations of $10.99 billion. During the same period in the prior year, the firm earned $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. As a group, equities analysts expect that Abbott Laboratories will post 5.48 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.63 per share. The ex-dividend date is Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.8%. Abbott Laboratories’s dividend payout ratio is presently 70.59%.

Insider Activity

In other Abbott Laboratories news, Director Daniel J. Starks acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average cost of $92.65 per share, for a total transaction of $926,500.00. Following the completion of the acquisition, the director directly owned 6,751,103 shares of the company’s stock, valued at approximately $625,489,692.95. This represents a 0.15% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Philip P. Boudreau bought 2,200 shares of the stock in a transaction 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 acquisition, 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. The disclosure for this purchase is available in the SEC filing. 0.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Leerink Partners dropped their price objective on shares of Abbott Laboratories from $119.00 to $106.00 and set a “market perform” rating for the company in a research note on Tuesday, April 21st. Wells Fargo & Company lowered their target price on shares of Abbott Laboratories from $122.00 to $109.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Raymond James Financial dropped their price target on shares of Abbott Laboratories from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Bank of America cut their price target on shares of Abbott Laboratories from $120.00 to $102.00 in a research note on Friday, June 12th. Finally, BTIG Research reissued a “buy” rating and set a $131.00 price objective on shares of Abbott Laboratories in a report on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.61.

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.