Jennison Associates LLC Makes New Investment in Abbott Laboratories $ABT

Jennison Associates LLC purchased a new stake in shares of Abbott Laboratories (NYSE:ABT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 189,890 shares of the healthcare product maker’s stock, valued at approximately $19,496,000.

A number of other hedge funds and 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 fourth quarter worth $25,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Abbott Laboratories during the 4th quarter valued at $25,000. Purpose Unlimited Inc. purchased a new stake in Abbott Laboratories during the 4th quarter worth about $25,000. Portfolio Resources Advisor Group Inc. purchased a new stake in Abbott Laboratories during the 4th quarter worth about $26,000. Finally, Abound Financial LLC bought a new position in Abbott Laboratories in the 4th quarter worth about $26,000. 75.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ABT. Wells Fargo & Company upped their price target on Abbott Laboratories from $109.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Abbott Laboratories in a research note on Friday, July 17th. Sanford C. Bernstein decreased their target price on shares of Abbott Laboratories from $125.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. UBS Group cut their price target on shares of Abbott Laboratories from $158.00 to $135.00 and set a “buy” rating for the company in a report on Monday, April 20th. Finally, BTIG Research boosted their price target on shares of Abbott Laboratories from $131.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.61.

Abbott Laboratories Stock Down 2.0%

ABT opened at $99.67 on Wednesday. The business’s fifty day simple moving average is $90.58 and its 200 day simple moving average is $101.66. Abbott Laboratories has a 52 week low of $81.97 and a 52 week 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. The stock has a market cap of $173.61 billion, a PE ratio of 32.26, a P/E/G ratio of 2.03 and a beta of 0.61.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.03. Abbott Laboratories had a return on equity of 17.65% and a net margin of 11.65%.The firm had revenue of $12.51 billion during the quarter, compared to analyst estimates of $12.52 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The company’s revenue was up 13.0% compared to the same quarter last year. 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. As a group, research analysts expect that Abbott Laboratories will post 5.51 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 paid 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 2.5%. Abbott Laboratories’s dividend payout ratio is currently 81.55%.

Insider Activity at Abbott Laboratories

In other Abbott Laboratories news, Director Daniel J. Starks acquired 10,000 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was bought at an average price of $92.65 per share, with a total value of $926,500.00. Following the purchase, the director owned 6,751,103 shares of the company’s stock, valued at approximately $625,489,692.95. This trade represents a 0.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Philip P. Boudreau bought 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was acquired at an average price of $91.50 per share, for a total transaction of $201,300.00. Following the transaction, the chief financial officer owned 2,200 shares in the company, valued at $201,300. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.46% of the stock is owned by corporate insiders.

Abbott Laboratories 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.