Jennison Associates LLC Invests $19.50 Million in Abbott Laboratories $ABT

Jennison Associates LLC bought a new position in Abbott Laboratories (NYSE:ABT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 189,890 shares of the healthcare product maker’s stock, valued at approximately $19,496,000.

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

Insider Activity

In other news, Director Daniel J. Starks acquired 10,000 shares of Abbott Laboratories stock in a transaction on Monday, April 27th. The stock was acquired at an average cost of $92.65 per share, for a total transaction of $926,500.00. Following the purchase, the director owned 6,751,103 shares in the company, valued at $625,489,692.95. This trade represents a 0.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Philip P. Boudreau bought 2,200 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was purchased at an average price of $91.50 per share, for a total transaction of $201,300.00. Following the purchase, the chief financial officer owned 2,200 shares of the company’s stock, valued at approximately $201,300. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. 0.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ABT has been the topic of several research analyst reports. Raymond James Financial reduced their target price on Abbott Laboratories from $130.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Wells Fargo & Company raised their price target on Abbott Laboratories from $109.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Jefferies Financial Group reduced their price objective on shares of Abbott Laboratories from $145.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. Mizuho decreased their price objective on shares of Abbott Laboratories from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Friday, April 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Abbott Laboratories from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Abbott Laboratories has a consensus rating of “Moderate Buy” and an average price target of $118.61.

Abbott Laboratories Price Performance

ABT stock opened at $99.67 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.39. The firm has a 50 day moving average price of $90.58 and a 200-day moving average price of $101.66. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $137.49. The firm has a market capitalization of $173.61 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 2.03 and a beta of 0.61.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.03. The company had revenue of $12.51 billion for the quarter, compared to the consensus estimate of $12.52 billion. Abbott Laboratories had a return on equity of 17.65% and a net margin of 11.65%.The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 EPS. 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. Equities research analysts forecast that Abbott Laboratories will post 5.51 EPS for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders 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 annualized dividend and a dividend yield of 2.5%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 81.55%.

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.