Sumitomo Life Insurance Co. Makes New Investment in Abbott Laboratories $ABT

Sumitomo Life Insurance Co. acquired a new stake in Abbott Laboratories (NYSE:ABT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,459 shares of the healthcare product maker’s stock, valued at approximately $1,040,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABT. J. Stern & Co. LLP boosted 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 last quarter. Norges Bank acquired a new position in Abbott Laboratories in the fourth quarter valued at $2,938,892,000. Flossbach Von Storch SE acquired a new stake in Abbott Laboratories in the 2nd quarter worth about $902,938,000. BlackRock Inc. grew its holdings in Abbott Laboratories by 4.6% in the 2nd quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock valued at $13,843,610,000 after buying an additional 6,769,518 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Abbott Laboratories by 217.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,522,222 shares of the healthcare product maker’s stock valued at $566,967,000 after acquiring an additional 3,780,402 shares during the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Trading Down 1.8%

NYSE ABT opened at $110.48 on Tuesday. The firm has a market capitalization of $191.17 billion, a price-to-earnings ratio of 35.75, a PEG ratio of 2.18 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 one year low of $81.97 and a one year high of $137.49. The company’s 50 day moving average price is $103.06 and its 200 day moving average price is $100.13.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.03. The company had revenue of $12.59 billion during the quarter, compared to analyst estimates of $12.52 billion. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 earnings per share. 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, sell-side analysts predict that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Wednesday, July 15th were given a $0.63 dividend. The ex-dividend date of this dividend was 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%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ABT shares. JPMorgan Chase & Co. raised their target price on shares of Abbott Laboratories from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. The Goldman Sachs Group cut their price target on shares of Abbott Laboratories from $121.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Citigroup lifted their price target on shares of Abbott Laboratories from $108.00 to $112.00 and gave the company a “buy” rating in a report on Friday, July 17th. UBS Group dropped their price objective on Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Finally, Bank of America cut their target price on Abbott Laboratories from $120.00 to $102.00 in a research report on Friday, June 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $119.50.

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.