40,000 Shares in Abbott Laboratories $ABT Acquired by Canoe Financial LP

Canoe Financial LP bought a new position in shares of Abbott Laboratories (NYSE:ABT) during the first quarter, HoldingsChannel reports. The fund bought 40,000 shares of the healthcare product maker’s stock, valued at approximately $4,107,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. J. Stern & Co. LLP lifted its holdings in shares of 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 worth $4,926,279,000 after purchasing an additional 39,005,451 shares during the period. Norges Bank acquired a new position in shares of Abbott Laboratories during the fourth quarter worth about $2,938,892,000. Invesco Ltd. increased its stake in shares of Abbott Laboratories by 51.0% during the third quarter. Invesco Ltd. now owns 13,951,907 shares of the healthcare product maker’s stock worth $1,868,718,000 after acquiring an additional 4,713,135 shares during the period. Assenagon Asset Management S.A. raised its holdings in Abbott Laboratories by 303.0% during the first quarter. Assenagon Asset Management S.A. now owns 4,429,571 shares of the healthcare product maker’s stock worth $454,784,000 after purchasing an additional 3,330,368 shares in the last quarter. Finally, Ninety One UK Ltd acquired a new stake in Abbott Laboratories in the fourth quarter valued at about $336,815,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Abbott Laboratories

In other news, Director Daniel J. Starks bought 10,000 shares of Abbott Laboratories stock in a transaction on Monday, April 27th. The shares were bought at an average cost of $92.65 per share, for a total transaction of $926,500.00. Following the acquisition, the director owned 6,751,103 shares in the company, valued at approximately $625,489,692.95. This trade represents a 0.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Philip P. Boudreau purchased 2,200 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $201,300.00. Following the completion of the purchase, the chief financial officer directly owned 2,200 shares in the company, valued at $201,300. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.46% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ABT shares. Oppenheimer decreased their price target on Abbott Laboratories from $132.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Jefferies Financial Group reduced their target price on Abbott Laboratories from $145.00 to $135.00 and set a “buy” rating for the company in a report on Friday, April 17th. Mizuho lowered their price target on shares of Abbott Laboratories from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. Raymond James Financial cut their price target on shares of Abbott Laboratories from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, April 17th. Finally, BTIG Research reissued a “buy” rating and set a $131.00 price objective on shares of Abbott Laboratories in a report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.30.

Abbott Laboratories Stock Performance

NYSE:ABT opened at $94.02 on Monday. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $137.49. The company has a market capitalization of $163.77 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 1.62 and a beta of 0.63. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $89.08 and a two-hundred day moving average price of $105.27.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, April 16th. The healthcare product maker reported $1.15 EPS for the quarter, beating the consensus estimate of $1.14 by $0.01. Abbott Laboratories had a net margin of 13.90% and a return on equity of 17.62%. The business had revenue of $11.16 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same period in the prior year, the business earned $1.09 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Abbott Laboratories has set its FY 2026 guidance at 5.380-5.580 EPS and its Q2 2026 guidance at 1.250-1.310 EPS. As a group, research analysts expect that Abbott Laboratories will post 5.48 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

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 issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, July 15th. Abbott Laboratories’s payout ratio is 70.59%.

Abbott Laboratories 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.