Abbott Laboratories $ABT Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Abbott Laboratories stake by 97.1% in the second quarter, selling 165,381 shares and retaining 4,990 shares valued at approximately $453,000.
• Other institutional investors increased their positions, helping institutional ownership reach 75.18% of Abbott’s outstanding shares. Abbott reported quarterly EPS of $1.31 and revenue of $12.59 billion, both above analyst expectations, with revenue up 13% year over year.
• Abbott declared a quarterly dividend of $0.63 per share, equivalent to a 2.4% annual yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $119.50, compared with shares recently trading near $103.62.

Engineers Gate Manager LP reduced its position in Abbott Laboratories (NYSE:ABT - Free Report) by 97.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,990 shares of the healthcare product maker's stock after selling 165,381 shares during the period. Engineers Gate Manager LP's holdings in Abbott Laboratories were worth $453,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Aureus Asset Management LLC boosted its holdings in shares of Abbott Laboratories by 25.0% during the first quarter. Aureus Asset Management LLC now owns 331,920 shares of the healthcare product maker's stock worth $34,078,000 after purchasing an additional 66,422 shares during the last quarter. Thompson Investment Management Inc. lifted its position in Abbott Laboratories by 786.0% during the second quarter. Thompson Investment Management Inc. now owns 14,061 shares of the healthcare product maker's stock worth $1,276,000 after buying an additional 12,474 shares during the period. Parnassus Investments LLC boosted its stake in Abbott Laboratories by 17.5% in the 4th quarter. Parnassus Investments LLC now owns 616,351 shares of the healthcare product maker's stock worth $77,223,000 after buying an additional 91,897 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new stake in Abbott Laboratories in the 2nd quarter worth about $4,889,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Abbott Laboratories by 38.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,895,185 shares of the healthcare product maker's stock valued at $171,969,000 after buying an additional 522,279 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $103.62 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. The company's fifty day moving average price is $107.15 and its two-hundred day moving average price is $99.10. The firm has a market capitalization of $179.31 billion, a P/E ratio of 33.53, a P/E/G ratio of 1.92 and a beta of 0.59. Abbott Laboratories has a 12 month low of $81.97 and a 12 month high of $136.83.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share (EPS) for the quarter, topping 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 business had revenue of $12.59 billion for the quarter, compared to analyst estimates of $12.52 billion. During the same period in the previous year, the company 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, research analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, October 15th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, October 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 presently 81.55%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ABT shares. TD Cowen reiterated a "buy" rating and set a $135.00 price objective on shares of Abbott Laboratories in a report on Tuesday, September 8th. Piper Sandler reaffirmed an "overweight" rating and set a $118.00 price target (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. Bank of America cut their price target on shares of Abbott Laboratories from $120.00 to $102.00 in a research note on Friday, June 12th. The Goldman Sachs Group lowered their price objective on shares of Abbott Laboratories from $121.00 to $113.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. Finally, Weiss Ratings upgraded Abbott Laboratories from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, September 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Abbott Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $119.50.

Trending Headlines about Abbott Laboratories

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

• Positive Sentiment: Abbott and Berry Street announced an exclusive partnership combining Abbott’s Lingo over-the-counter continuous glucose monitor with Berry Street’s insurance-covered registered-dietitian and nutrition-coaching platform. The initiative could improve Lingo adoption, expand Abbott’s consumer health ecosystem and strengthen its position in metabolic-health services. Abbott and Berry Street partnership article
• Positive Sentiment: Abbott’s Volt Pulsed Field Ablation System reportedly saw its first clinical use in Canada and at an Illinois heart center for treating atrial fibrillation. Additional real-world use could support the medical-device pipeline and future cardiovascular revenue growth. Abbott digital health and formula settlement article
• Positive Sentiment: Investor commentary continues to describe Abbott as a high-quality, diversified healthcare business with attractive long-term prospects. Its exposure to diagnostics, medical devices, nutrition and digital health provides multiple growth avenues, and the therapeutic drug-monitoring market is projected to expand substantially through 2032. What makes Abbott attractive article
• Neutral Sentiment: ABT is drawing increased attention from investors and analysts. Recent results exceeded consensus estimates, with revenue growth supported by the company’s diversified portfolio, but commentary generally characterizes the shares as a strong business available at a fair—not deeply discounted—price. Abbott trending stock article
• Negative Sentiment: Abbott agreed to pay approximately $385 million to settle infant-formula litigation. Although the settlement removes some legal uncertainty, the cash cost and reputational overhang are negative for near-term sentiment. Valuation comparisons with faster-growing healthcare companies, including Exact Sciences, may also reduce enthusiasm among growth-oriented investors. Abbott and Exact Sciences comparison article

About Abbott Laboratories

Abbott Laboratories NYSE: ABT is a global healthcare company that develops, manufactures and sells medical products and technologies. Its operations span four principal areas: medical devices, diagnostics, established pharmaceutical products and nutrition. Abbott serves healthcare providers, institutions and consumers in markets around the world.

The company's medical device portfolio includes products for cardiovascular care, diabetes management and other specialties. Its diagnostics business provides laboratory systems, tests and point-of-care solutions, while its nutrition products include infant, child and adult nutritional offerings sold under brands such as Similac, Ensure and Pedialyte.

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