Abbott Laboratories $ABT Shares Acquired by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co. nearly doubled its Abbott Laboratories stake in the second quarter, acquiring 876,954 additional shares to own 1.83 million shares valued at approximately $166.7 million.
• Analysts maintain a generally positive view, with Abbott receiving a “Moderate Buy” consensus rating and an average price target of $118.17; institutional investors collectively own 75.18% of the company.
• Abbott exceeded quarterly expectations with $1.31 in adjusted EPS and $12.59 billion in revenue, while revenue rose 13% year over year. The company also declared a quarterly dividend of $0.63 per share, representing a 2.3% annualized yield.

DAVENPORT & Co LLC increased its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 92.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,827,013 shares of the healthcare product maker's stock after acquiring an additional 876,954 shares during the quarter. Abbott Laboratories makes up about 0.8% of DAVENPORT & Co LLC's holdings, making the stock its 27th biggest position. DAVENPORT & Co LLC owned 0.10% of Abbott Laboratories worth $166,732,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ABT. Investors Research Corp grew its position in Abbott Laboratories by 7,781.2% during the 2nd quarter. Investors Research Corp now owns 6,305 shares of the healthcare product maker's stock worth $572,000 after purchasing an additional 6,225 shares during the last quarter. Accel Wealth Management raised its holdings in shares of Abbott Laboratories by 5.4% in the second quarter. Accel Wealth Management now owns 2,449 shares of the healthcare product maker's stock valued at $222,000 after buying an additional 126 shares during the last quarter. Butensky & Cohen Financial Security Inc. boosted its stake in shares of Abbott Laboratories by 26.9% during the second quarter. Butensky & Cohen Financial Security Inc. now owns 43,809 shares of the healthcare product maker's stock worth $3,975,000 after buying an additional 9,277 shares during the period. FORM Wealth Advisors LLC grew its holdings in shares of Abbott Laboratories by 129.1% during the second quarter. FORM Wealth Advisors LLC now owns 7,678 shares of the healthcare product maker's stock worth $697,000 after buying an additional 4,327 shares during the last quarter. Finally, Tema ETFs LLC increased its position in Abbott Laboratories by 6.3% in the 2nd quarter. Tema ETFs LLC now owns 52,068 shares of the healthcare product maker's stock valued at $4,725,000 after acquiring an additional 3,064 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABT. Stifel Nicolaus decreased their price objective on Abbott Laboratories from $145.00 to $120.00 and set a "buy" rating for the company in a research report on Friday, April 17th. UBS Group dropped their target price on Abbott Laboratories from $135.00 to $125.00 and set a "buy" rating on the stock in a report on Tuesday, July 28th. JPMorgan Chase & Co. increased their price target on Abbott Laboratories from $110.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Leerink Partners lowered their price objective on shares of 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. Finally, Wells Fargo & Company boosted their price objective on shares of Abbott Laboratories from $109.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. Three equities research 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $118.17.

Trending Headlines about Abbott Laboratories

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Bank of America issues a Buy rating: The endorsement from Bank of America Securities adds to positive Wall Street sentiment and may support investor confidence in Abbott’s earnings and growth outlook. Abbott Laboratories Receives a Buy from Bank of America Securities
• Positive Sentiment: Abbott and Google expand glucose-monitoring partnership: Abbott will integrate Lingo glucose data with Google’s AI-driven consumer health tools. The companies also plan a large real-world metabolic-health study, potentially improving personalized coaching, supporting future Lingo features and increasing the commercial value of Abbott’s biowearable platform. Abbott Laboratories Ties Lingo Glucose Data to AI Health Tools
• Positive Sentiment: Potential cardiovascular innovation: Abbott’s ongoing PULSE study is evaluating early treatment for atrial fibrillation. Positive results could strengthen Abbott’s electrophysiology portfolio, although the study remains a longer-term catalyst and does not yet establish a commercial benefit. Early AF Treatment on Trial: What Abbott’s PULSE Study Could Mean for Investors
• Neutral Sentiment: Blood-donation campaign returns: Abbott and the Big Ten revived the “We Give Blood” campaign amid a U.S. blood shortage. The initiative enhances Abbott’s public profile and reinforces its healthcare mission, but it is unlikely to have a material near-term effect on earnings. Abbott and Big Ten Bring Back We Give Blood

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $110.92 on Thursday. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. The stock has a 50 day simple moving average of $96.86 and a 200-day simple moving average of $99.73. The company has a market cap of $191.93 billion, a price-to-earnings ratio of 35.90, a price-to-earnings-growth ratio of 2.12 and a beta of 0.59. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $137.49.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.03. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%.The firm had revenue of $12.59 billion for the quarter, compared to the consensus estimate of $12.52 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The company'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 analysts forecast that Abbott Laboratories will post 5.52 EPS for the current 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 paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. Abbott Laboratories's dividend payout ratio is 81.55%.

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.

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