Griffin Asset Management Inc. Purchases 6,023 Shares of Abbott Laboratories $ABT

Griffin Asset Management Inc. increased its position in Abbott Laboratories (NYSE:ABT) by 10.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,442 shares of the healthcare product maker’s stock after buying an additional 6,023 shares during the period. Griffin Asset Management Inc.’s holdings in Abbott Laboratories were worth $6,719,000 at the end of the most recent quarter.

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

Abbott Laboratories Price Performance

ABT opened at $94.25 on Friday. The business has a fifty day moving average of $89.16 and a 200 day moving average of $103.31. The stock has a market cap of $164.16 billion, a P/E ratio of 26.40, a PEG ratio of 1.64 and a beta of 0.61. 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 has a 52-week low of $81.97 and a 52-week high of $137.49.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.01. The business had revenue of $11.16 billion for the quarter, compared to analyst estimates of $10.99 billion. Abbott Laboratories had a return on equity of 17.62% and a net margin of 13.90%.The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 earnings per share. 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 anticipate that Abbott Laboratories will post 5.48 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Wednesday, July 15th will be issued 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 2.7%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 70.59%.

Analysts Set New Price Targets

A number of brokerages have commented on ABT. Daiwa Securities Group cut shares of Abbott Laboratories from an “outperform” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research note on Wednesday, April 22nd. Weiss Ratings raised shares of Abbott Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Royal Bank Of Canada dropped their price target on Abbott Laboratories from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Wells Fargo & Company reduced their price objective on Abbott Laboratories from $122.00 to $109.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Finally, Barclays decreased their price objective on Abbott Laboratories from $144.00 to $143.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. Three 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.42.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau bought 2,200 shares of the company’s stock in a transaction on Thursday, April 23rd. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $201,300.00. Following the purchase, the chief financial officer directly owned 2,200 shares of the company’s stock, valued at approximately $201,300. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel J. Starks purchased 10,000 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were bought at an average cost of $92.65 per share, with a total value of $926,500.00. Following the purchase, 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 disclosure for this purchase is available in the SEC filing. 0.46% of the stock is owned by corporate insiders.

About Abbott Laboratories

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.