Abbott Laboratories $ABT Stake Reduced by First Financial Corp IN

First Financial Corp IN lowered its holdings in Abbott Laboratories (NYSE:ABT) by 38.7% in the third quarter, Holdings Channel reports. The firm owned 8,907 shares of the healthcare product maker’s stock after selling 5,614 shares during the quarter. First Financial Corp IN’s holdings in Abbott Laboratories were worth $880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. Cornerstone Financial Management LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $25,000. Purpose Unlimited Inc. bought a new position in shares of Abbott Laboratories in the 4th quarter valued at about $25,000. Portfolio Resources Advisor Group Inc. acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $26,000. Abound Financial LLC bought a new stake in Abbott Laboratories during the fourth quarter worth about $26,000. Finally, Manning & Napier Advisors LLC bought a new stake in Abbott Laboratories during the second quarter worth about $31,000. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Abbott Laboratories Stock Performance

NYSE:ABT traded up $0.89 during mid-day trading on Tuesday, hitting $102.71. The stock had a trading volume of 9,863,158 shares, compared to its average volume of 11,308,400. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $133.34. The stock has a market cap of $177.72 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 1.85 and a beta of 0.59. The company’s 50 day simple moving average is $106.14 and its 200 day simple moving average is $98.29. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. The business had revenue of $12.59 billion during the quarter, compared to analysts’ expectations of $12.52 billion. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%. Abbott Laboratories’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company posted $1.26 earnings per share. Abbott Laboratories has set its Q3 2026 guidance at 1.380-1.46 EPS and its FY 2026 guidance at 5.450-5.60 EPS. On average, equities research analysts forecast that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Thursday, October 15th. Abbott Laboratories’s payout ratio is currently 81.55%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ABT. Wolfe Research raised Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price target for the company in a research report on Thursday, August 13th. BTIG Research upped their price objective on Abbott Laboratories from $131.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. TD Cowen reissued a “buy” rating and issued a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, September 8th. Wells Fargo & Company increased their price objective on Abbott Laboratories from $109.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Finally, Piper Sandler restated an “overweight” rating and set a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a report on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.88.

About Abbott Laboratories

Abbott Laboratories (NYSE:ABT) is a diversified healthcare company that develops, manufactures and sells medical devices, diagnostic products, nutritional products and branded generic pharmaceuticals. Founded in 1888 by Wallace C. Abbott, the company serves healthcare providers, institutions, retailers and consumers worldwide.

Abbott’s medical device portfolio includes cardiovascular products, such as coronary stents, structural heart systems and heart failure devices, as well as diabetes-care technologies, including the FreeStyle Libre continuous glucose monitoring system.