Canal Insurance CO Purchases 50,000 Shares of Abbott Laboratories $ABT

Canal Insurance CO increased its position in shares of Abbott Laboratories (NYSE:ABT) by 125.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,000 shares of the healthcare product maker’s stock after buying an additional 50,000 shares during the period. Abbott Laboratories accounts for approximately 2.0% of Canal Insurance CO’s investment portfolio, making the stock its 16th biggest position. Canal Insurance CO’s holdings in Abbott Laboratories were worth $9,240,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ABT. Freemont Management S.A. raised its stake in Abbott Laboratories by 197.2% in the 4th quarter. Freemont Management S.A. now owns 10,700 shares of the healthcare product maker’s stock valued at $1,341,000 after acquiring an additional 7,100 shares during the period. PFA Pension Forsikringsaktieselskab bought a new position in Abbott Laboratories during the fourth quarter worth $116,580,000. Danica Pension Livsforsikringsaktieselskab bought a new position in shares of Abbott Laboratories in the third quarter valued at about $185,640,000. Thrivent Financial for Lutherans lifted its stake in shares of Abbott Laboratories by 24.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 246,586 shares of the healthcare product maker’s stock worth $30,931,000 after buying an additional 48,286 shares during the last quarter. Finally, Net Worth Advisory Group bought a new stake in shares of Abbott Laboratories during the 4th quarter worth about $1,366,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Insider Activity at Abbott Laboratories

In related news, Director Daniel J. Starks bought 10,000 shares of the firm’s stock in a transaction on Monday, April 27th. The shares were purchased at an average price of $92.65 per share, with a total value of $926,500.00. Following the completion of the purchase, the director owned 6,751,103 shares in the company, valued at $625,489,692.95. This represents a 0.15% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Philip P. Boudreau purchased 2,200 shares of the stock in a transaction dated Thursday, April 23rd. The shares were bought at an average price of $91.50 per share, with a total value of $201,300.00. Following the completion of the acquisition, the chief financial officer directly owned 2,200 shares of the company’s stock, valued at approximately $201,300. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.46% of the company’s stock.

Abbott Laboratories Price Performance

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 52 week low of $81.97 and a 52 week high of $137.49. The stock has a market capitalization of $160.27 billion, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The stock has a fifty day moving average of $89.23 and a 200-day moving average of $102.86.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, April 16th. The healthcare product maker reported $1.15 earnings per share for the quarter, beating the consensus estimate 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%.Abbott Laboratories’s revenue was up 7.8% compared to the same quarter last year. During the same period 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. On average, sell-side analysts expect that Abbott Laboratories will post 5.48 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared 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 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 70.59%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup lowered their price target on shares of Abbott Laboratories from $136.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, April 17th. Wells Fargo & Company decreased their target price on Abbott Laboratories from $122.00 to $109.00 and set an “overweight” rating on the stock in a research report on Friday, April 17th. Argus lowered their target price on Abbott Laboratories from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Benchmark reduced their price target on Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, April 17th. Finally, The Goldman Sachs Group decreased their price objective on Abbott Laboratories from $121.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $118.42.

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.