Empowered Funds LLC Purchases New Stake in Abbott Laboratories $ABT

Key Points

• Empowered Funds LLC acquired 166,065 Abbott shares worth approximately $15.1 million in the second quarter. Institutional investors collectively own 75.18% of ABT, with several major funds increasing their positions.
• Abbott exceeded quarterly expectations with adjusted EPS of $1.31 versus a $1.28 consensus and revenue of $12.59 billion, up 13% year over year. The company guided for third-quarter EPS of $1.38–$1.46 and full-year EPS of $5.45–$5.60.
• Abbott pays a quarterly dividend of $0.63, equivalent to a 2.3% annualized yield. Analysts maintain a broadly positive outlook, with a “Moderate Buy” consensus rating and an average price target of $119.50.

Empowered Funds LLC acquired a new position in Abbott Laboratories (NYSE:ABT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 166,065 shares of the healthcare product maker's stock, valued at approximately $15,069,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABT. BlackRock Inc. raised its holdings in shares of Abbott Laboratories by 4.6% in the 2nd quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker's stock worth $13,843,610,000 after purchasing an additional 6,769,518 shares during the period. State Street Corp grew its holdings in Abbott Laboratories by 2.1% during the fourth quarter. State Street Corp now owns 79,853,782 shares of the healthcare product maker's stock valued at $10,004,880,000 after purchasing an additional 1,627,791 shares during the period. Capital International Investors increased its position in Abbott Laboratories by 2.6% in the fourth quarter. Capital International Investors now owns 63,229,445 shares of the healthcare product maker's stock worth $7,922,519,000 after buying an additional 1,614,706 shares during the last quarter. J. Stern & Co. LLP raised its stake in shares of 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 valued at $4,926,279,000 after buying an additional 39,005,451 shares during the period. Finally, Capital Research Global Investors raised its stake in shares of 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 valued at $4,907,523,000 after buying an additional 400,400 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories News Summary

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

• Positive Sentiment: Abbott shares outperformed the broader market in the latest session, suggesting continued investor support for the diversified healthcare-products company. The move adds to its gains above both its 50-day and 200-day moving averages. Abbott Exceeds Market Returns: Some Facts to Consider
• Neutral Sentiment: A separate market comparison reported that Abbott underperformed its competitors during Tuesday’s trading session. The article did not identify a company-specific operational problem, making the relative weakness more relevant to short-term sentiment than to Abbott’s long-term fundamentals. Abbott Laboratories Stock Underperforms Tuesday
• Neutral Sentiment: Vice President John McCoy Jr. sold 27 shares for approximately $2,958. The transaction reduced his direct holdings by only 0.11%, leaving him with 24,549 shares, so it is too small to represent a meaningful change in insider conviction. SEC Insider Transaction Filing
• Neutral Sentiment: An investor-focused healthcare article mentioned Abbott primarily as the former parent of AbbVie, rather than discussing new developments at ABT. It therefore provides little direct information about Abbott’s near-term earnings or valuation. Abbott Laboratories Company Information

Abbott Laboratories Stock Performance

NYSE:ABT opened at $108.81 on Friday. The business's fifty day moving average is $104.14 and its 200 day moving average is $100.06. The firm has a market cap of $188.28 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 2.05 and a beta of 0.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38. Abbott Laboratories has a 52-week low of $81.97 and a 52-week high of $137.49.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 EPS for the quarter, topping the consensus estimate of $1.28 by $0.03. The business had revenue of $12.59 billion during the quarter, compared to the consensus estimate of $12.52 billion. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%.The firm's revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 EPS. 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 5.52 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Wednesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is 81.55%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Abbott Laboratories from $109.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. The Goldman Sachs Group dropped their price objective on shares of Abbott Laboratories from $121.00 to $113.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. Piper Sandler reiterated an "overweight" rating and set a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. JPMorgan Chase & Co. lifted their target price on shares of Abbott Laboratories from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Finally, BTIG Research upped their price target on shares of Abbott Laboratories from $131.00 to $134.00 and gave the company a "buy" rating in a research note on Friday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Abbott Laboratories currently has an average rating of "Moderate Buy" and a consensus target price of $119.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source