Renaissance Technologies LLC Raises Position in Abbott Laboratories $ABT

Renaissance Technologies LLC lifted its stake in Abbott Laboratories (NYSE:ABT) by 122.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,238,666 shares of the healthcare product maker’s stock after purchasing an additional 680,600 shares during the quarter. Renaissance Technologies LLC owned about 0.07% of Abbott Laboratories worth $127,174,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. J. Stern & Co. LLP lifted its position in Abbott Laboratories by 12,439.6% in the fourth quarter. J. Stern & Co. LLP now owns 39,319,009 shares of the healthcare product maker’s stock worth $4,926,279,000 after buying an additional 39,005,451 shares during the last quarter. Norges Bank bought a new position in Abbott Laboratories during the fourth quarter valued at $2,938,892,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Abbott Laboratories by 217.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,522,222 shares of the healthcare product maker’s stock valued at $566,967,000 after acquiring an additional 3,780,402 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Abbott Laboratories by 303.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 4,429,571 shares of the healthcare product maker’s stock worth $454,784,000 after acquiring an additional 3,330,368 shares during the last quarter. Finally, Ninety One UK Ltd bought a new stake in shares of Abbott Laboratories in the 4th quarter worth about $336,815,000. Institutional investors own 75.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on ABT shares. BTIG Research increased their price objective on shares of Abbott Laboratories from $131.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. JPMorgan Chase & Co. upped their target price on Abbott Laboratories from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $130.00 price target on shares of Abbott Laboratories in a report on Friday, July 17th. Daiwa Securities Group cut Abbott Laboratories from an “outperform” rating to a “neutral” rating and set a $92.00 price objective for the company. in a report on Wednesday, April 22nd. Finally, Leerink Partners cut their price objective on Abbott Laboratories from $119.00 to $106.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and an average target price of $118.61.

Abbott Laboratories Price Performance

ABT opened at $103.13 on Friday. The company has a market capitalization of $179.63 billion, a price-to-earnings ratio of 33.38, a PEG ratio of 1.95 and a beta of 0.61. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $137.49. The business’s fifty day simple moving average is $91.61 and its 200-day simple moving average is $101.33.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.65%. The company had revenue of $12.51 billion during the quarter, compared to analyst estimates of $12.52 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. The firm’s revenue for the quarter 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. On average, equities research analysts anticipate that Abbott Laboratories will post 5.51 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be paid 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 dividend yield of 2.4%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 81.55%.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, Director Daniel J. Starks acquired 10,000 shares of Abbott Laboratories stock in a transaction that occurred on 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 completion of 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by 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.