Toronto Dominion Bank Reduces $44M in Abbott Laboratories ($ABT)
Toronto Dominion Bank cut its position in Abbott Laboratories by nearly 47%, as per its latest 13F filing.
Key Points
- Toronto Dominion Bank reduced its stake in Abbott Laboratories by 47.1%, selling 470,304 shares and now holding 527,881 shares valued at $49.1 million.
- Abbott Laboratories, trading at $93.06, has a market cap of $163.9 billion and a P/E ratio of 26.36 with a 52-week range of $81.97 to $137.49.
- Analysts maintain a 'buy' consensus with a target mean price of $116.54, as Piper Sandler reiterated a $115 target on June 22, 2026.
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Toronto Dominion Bank has cut its stake in Abbott Laboratories (NYSE:ABT) by 47.1%, according to its recent 13F filing with the SEC. The bank sold 470,304 shares, leaving it with 527,881 shares valued at approximately $49.1 million as of the reporting period.
What Changed in Toronto Dominion Bank's Abbott Laboratories Position
Toronto Dominion Bank trimmed its holdings in Abbott Laboratories significantly, reducing its shares from 998,185 to 527,881. This cutback represents a 47.1% decrease, with the remaining shares now worth about $49.1 million.
Other Institutional Activity in Abbott Laboratories
Several other major institutional investors also adjusted their positions in Abbott Laboratories. BlackRock, Inc. decreased its holdings by 1,221,310 shares, bringing its total to 145,687,458 shares valued at roughly $14.96 billion. Vanguard Capital Management LLC opened a new position with 112,949,933 shares, valued at about $11.60 billion. State Street Corp reduced its stake by 278,314 shares, now holding 79,575,468 shares worth around $8.17 billion. Capital Research Global Investors increased its position by 10,606,123 shares, totaling 49,775,362 shares valued at approximately $5.11 billion.
Abbott Laboratories Stock Down 17.3%
Shares of Abbott Laboratories traded near $93.06 on Tuesday. The company, with a market cap of $163.9 billion, has a P/E ratio of 26.36 and a forward P/E of 15.53. Its beta is 0.62, indicating lower volatility than the market. The stock's 52-week range is between $81.97 and $137.49, with a 50-day moving average of $89.13 and a 200-day moving average of $112.61. Abbott's current ratio stands at 1.39, while its quick ratio is 0.84, and its debt-to-equity ratio is 64.77.
$ABT stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Abbott Laboratories reported revenue of $45.13 billion, reflecting a growth rate of 7.8%. Its earnings per share (EPS) was $3.57, with a net margin of 13.9% and a return on equity (ROE) of 12.3%. The company is scheduled to announce its next earnings report on July 16, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
8 target cuts vs 0 raises.
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EPS & revenue
EPS met estimates. Revenue beat estimates by 0.5%.
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Profit surprise
EBITDA missed by 43 percent. Operating income missed by 19 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
8 target cuts.
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Earnings quality
Gross margin up 3.7 points. Positive free cash flow.
Earnings Call Summary
Abbott completed its $2.4 billion acquisition of Exact Sciences on March 23 and is integrating the cancer diagnostics business into its portfolio. First quarter results came in slightly ahead, with sales of $11.2 billion, up 3.7 percent on a comparable basis, though the respiratory season was weaker than expected. The company is seeing early signs of volume recovery in Nutrition after price increases, expects Core Lab Diagnostics to accelerate, and is launching new cardiac devices like the Volt pulsed field ablation catheter and TactiFlex Duo. Management remains confident in second half acceleration but is being cautious on near term market conditions.
Guidance Abbott cut full year earnings guidance from $5.68 to $5.48 per share, reflecting $0.20 of dilution from the Exact Sciences acquisition. The company guided full year revenue growth of 6.5 percent to 7.5 percent on a comparable basis including Exact Sciences. For the second quarter, Abbott expects earnings of $1.25 to $1.31 per share. Management said they are being conservative on respiratory season assumptions and expect acceleration in the second half driven by Nutrition recovery, Core Lab Diagnostics growth, and Exact Sciences integration.
Severe negative reset. The report materially damaged the forward outlook and likely forces major downward revisions.
Dividend
Abbott Laboratories offers an annual dividend rate of $2.52, yielding 2.68%. The dividend payout ratio is 67.23%.
Insider Buying and Selling at Abbott Laboratories
Recent insider activity at Abbott Laboratories saw EVP, GC and Secretary Elizabeth Cushman sell 560 shares at an average price of $94.12 on June 27, 2026. On the buying side, John Stratton acquired 2,000 shares at $86.82 on May 7, 2026, while Executive Vice President Mary Moreland purchased 5,314 shares at $94.41 on April 28, 2026.
Analysts Set New Price Targets
On June 22, 2026, Piper Sandler reiterated its 'buy' rating for Abbott Laboratories with a price target of $115. Barclays and other firms also maintained 'buy' ratings, with price targets ranging from $115 to $143. The consensus among 24 analysts is a 'buy' recommendation, with a target mean price of $116.54.
About Abbott Laboratories
Abbott Laboratories, headquartered in Abbott Park, Illinois, is a global healthcare company that develops, manufactures, and sells a broad range of healthcare products. The company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. Led by CEO Mr. Philip P. Boudreau, Abbott employs about 122,000 people worldwide.
Bottom Line
Toronto Dominion Bank's decision to cut its stake in Abbott Laboratories highlights the bank's strategic portfolio adjustments. Investors often track such moves through 13F filings, which provide a backward-looking glimpse into institutional holdings. Abbott Laboratories remains a significant player in the healthcare sector, with steady earnings and a positive outlook from analysts.
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