DAVENPORT & Co LLC Increases Holdings in Abbott Laboratories $ABT

DAVENPORT & Co LLC increased its position in Abbott Laboratories (NYSE:ABT) by 92.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,827,013 shares of the healthcare product maker’s stock after acquiring an additional 876,954 shares during the period. Abbott Laboratories makes up about 0.8% of DAVENPORT & Co LLC’s investment portfolio, making the stock its 27th biggest position. DAVENPORT & Co LLC’s holdings in Abbott Laboratories were worth $166,732,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Financial Management LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter worth $25,000. MidAtlantic Capital Management Inc. purchased a new position in Abbott Laboratories during the 4th quarter valued at about $25,000. Purpose Unlimited Inc. purchased a new position in Abbott Laboratories during the 4th quarter valued at about $25,000. Portfolio Resources Advisor Group Inc. acquired a new position in Abbott Laboratories during the fourth quarter worth about $26,000. Finally, Abound Financial LLC purchased a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $26,000. 75.18% of the stock is owned by institutional investors and hedge funds.

More Abbott Laboratories News

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

• Positive Sentiment: Bank of America issues a Buy rating: The endorsement from Bank of America Securities adds to positive Wall Street sentiment and may support investor confidence in Abbott’s earnings and growth outlook. Abbott Laboratories Receives a Buy from Bank of America Securities
• Positive Sentiment: Abbott and Google expand glucose-monitoring partnership: Abbott will integrate Lingo glucose data with Google’s AI-driven consumer health tools. The companies also plan a large real-world metabolic-health study, potentially improving personalized coaching, supporting future Lingo features and increasing the commercial value of Abbott’s biowearable platform. Abbott Laboratories Ties Lingo Glucose Data to AI Health Tools
• Positive Sentiment: Potential cardiovascular innovation: Abbott’s ongoing PULSE study is evaluating early treatment for atrial fibrillation. Positive results could strengthen Abbott’s electrophysiology portfolio, although the study remains a longer-term catalyst and does not yet establish a commercial benefit. Early AF Treatment on Trial: What Abbott’s PULSE Study Could Mean for Investors
• Neutral Sentiment: Blood-donation campaign returns: Abbott and the Big Ten revived the “We Give Blood” campaign amid a U.S. blood shortage. The initiative enhances Abbott’s public profile and reinforces its healthcare mission, but it is unlikely to have a material near-term effect on earnings. Abbott and Big Ten Bring Back We Give Blood

Abbott Laboratories Stock Up 1.1%

Shares of NYSE ABT opened at $110.92 on Thursday. The firm has a market cap of $191.93 billion, a P/E ratio of 35.90, a price-to-earnings-growth ratio of 2.12 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 1 year low of $81.97 and a 1 year high of $137.49. The firm’s 50 day moving average price is $96.86 and its 200 day moving average price is $99.73.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share 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 company had revenue of $12.59 billion for the quarter, compared to analyst estimates of $12.52 billion. During the same quarter in the prior year, the company posted $1.26 EPS. The business’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. As a group, sell-side analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors 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 is 81.55%.

Analyst Upgrades and Downgrades

ABT has been the subject of a number of recent research reports. Robert W. Baird began coverage on shares of Abbott Laboratories in a research note on Wednesday, July 1st. They set an “outperform” rating and a $121.00 price objective for the company. UBS Group reduced their target price on Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Mizuho lowered their target price on Abbott Laboratories from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Friday, April 17th. Raymond James Financial cut their price target on Abbott Laboratories from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, April 17th. Finally, Leerink Partners reduced their price objective on Abbott Laboratories from $119.00 to $106.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $118.17.

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.