Assenagon Asset Management S.A. Sells 1,210,999 Shares of Abbott Laboratories $ABT

Key Points

• Assenagon Asset Management cut its Abbott Laboratories stake by 27.3%, selling 1,210,999 shares and retaining 3.22 million shares valued at approximately $292.1 million. Institutional investors collectively own 75.18% of Abbott’s stock.
• Abbott beat quarterly expectations with $1.31 in adjusted EPS and $12.59 billion in revenue, up 13% year over year. The company guided for fiscal 2026 EPS of $5.45 to $5.60.
• Abbott declared a quarterly dividend of $0.63 per share, equivalent to a $2.52 annualized payout and a 2.3% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $118.17.

Assenagon Asset Management S.A. reduced its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 27.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,218,572 shares of the healthcare product maker's stock after selling 1,210,999 shares during the quarter. Assenagon Asset Management S.A. owned 0.18% of Abbott Laboratories worth $292,053,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Abbott Laboratories by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 175,556,716 shares of the healthcare product maker's stock worth $21,995,501,000 after purchasing an additional 2,402,408 shares during the last quarter. State Street Corp grew its stake in shares of Abbott Laboratories by 2.1% in the fourth quarter. State Street Corp now owns 79,853,782 shares of the healthcare product maker's stock worth $10,004,880,000 after acquiring an additional 1,627,791 shares during the period. Capital International Investors raised its holdings in shares of Abbott Laboratories by 2.6% during the fourth quarter. Capital International Investors now owns 63,229,445 shares of the healthcare product maker's stock valued at $7,922,519,000 after purchasing an additional 1,614,706 shares during the last quarter. J. Stern & Co. LLP lifted its position in Abbott Laboratories by 12,439.6% during the fourth quarter. J. Stern & Co. LLP now owns 39,319,009 shares of the healthcare product maker's stock valued at $4,926,279,000 after purchasing an additional 39,005,451 shares during the period. Finally, Capital Research Global Investors boosted its holdings in Abbott Laboratories by 1.0% in the fourth quarter. Capital Research Global Investors now owns 39,169,239 shares of the healthcare product maker's stock worth $4,907,523,000 after purchasing an additional 400,400 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Performance

NYSE ABT opened at $107.86 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. Abbott Laboratories has a 1-year low of $81.97 and a 1-year high of $137.49. The business has a 50 day simple moving average of $95.06 and a two-hundred day simple moving average of $99.97. The stock has a market capitalization of $186.63 billion, a PE ratio of 34.90, a P/E/G ratio of 2.05 and a beta of 0.59.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 EPS 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 during the quarter, compared to the consensus estimate of $12.52 billion. During the same period in the prior year, the company earned $1.26 EPS. The company's quarterly revenue 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 predict that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.63 per share. The ex-dividend date is Wednesday, July 15th. This represents a $2.52 annualized dividend and a yield of 2.3%. Abbott Laboratories's dividend payout ratio (DPR) is 81.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Raymond James Financial decreased their target price on shares of Abbott Laboratories from $130.00 to $115.00 and set an "outperform" rating for the company in a research note on Friday, April 17th. Citigroup upped their price objective on Abbott Laboratories from $108.00 to $112.00 and gave the company a "buy" rating in a research report on Friday, July 17th. Daiwa Securities Group cut Abbott Laboratories from an "outperform" rating to a "neutral" rating and set a $92.00 target price on the stock. in a research report on Wednesday, April 22nd. Leerink Partners cut their price target on Abbott Laboratories from $119.00 to $106.00 and set a "market perform" rating for the company in a research note on Tuesday, April 21st. Finally, Mizuho reduced their price objective on Abbott Laboratories from $125.00 to $115.00 and set a "neutral" rating for the company in a research note on Friday, April 17th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.17.

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.

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