Renaissance Technologies LLC Purchases 680,600 Shares of Abbott Laboratories $ABT

Renaissance Technologies LLC raised its position in shares of Abbott Laboratories (NYSE:ABT) by 122.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,238,666 shares of the healthcare product maker’s stock after buying an additional 680,600 shares during the period. Renaissance Technologies LLC’s holdings in Abbott Laboratories were worth $127,174,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on ABT shares. Argus lowered their price objective on shares of Abbott Laboratories from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Leerink Partners dropped their price target on Abbott Laboratories from $119.00 to $106.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 21st. TD Cowen restated a “buy” rating and issued a $115.00 price objective on shares of Abbott Laboratories in a research note on Friday, July 17th. Benchmark decreased their target price on Abbott Laboratories from $145.00 to $120.00 and set a “buy” rating for the company in a report on Friday, April 17th. Finally, Bank of America dropped their target price on Abbott Laboratories from $120.00 to $102.00 in a research report on Friday, June 12th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.61.

Abbott Laboratories Price Performance

Shares of ABT opened at $103.13 on Friday. The business’s 50-day moving average is $91.61 and its two-hundred day moving average is $101.33. The company has a market capitalization of $179.63 billion, a P/E ratio of 33.38, a P/E/G ratio of 1.95 and a beta of 0.61. Abbott Laboratories has a fifty-two week low of $81.97 and a fifty-two week high of $137.49. 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 (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $12.51 billion during the quarter, compared to analysts’ expectations of $12.52 billion. During the same quarter in the previous year, the firm posted $1.26 EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. 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. Research analysts predict that Abbott Laboratories will post 5.51 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a yield of 2.4%. Abbott Laboratories’s payout ratio is presently 81.55%.

Insider Buying and Selling

In other news, Director Daniel J. Starks acquired 10,000 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were acquired at an average price 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 $625,489,692.95. This trade represents a 0.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Abbott Laboratories Company 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.