8,000 Shares in Abbott Laboratories $ABT Bought by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. bought a new stake in shares of Abbott Laboratories (NYSE:ABT) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,000 shares of the healthcare product maker’s stock, valued at approximately $726,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its position in Abbott Laboratories by 10.1% during the fourth quarter. Brighton Jones LLC now owns 51,719 shares of the healthcare product maker’s stock valued at $5,850,000 after purchasing an additional 4,755 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in Abbott Laboratories by 3.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,768 shares of the healthcare product maker’s stock valued at $648,000 after purchasing an additional 162 shares during the last quarter. United Bank raised its holdings in shares of Abbott Laboratories by 7.4% in the second quarter. United Bank now owns 29,004 shares of the healthcare product maker’s stock worth $3,945,000 after buying an additional 2,001 shares during the period. Main Street Financial Solutions LLC increased its stake in Abbott Laboratories by 13.6% in the second quarter. Main Street Financial Solutions LLC now owns 11,894 shares of the healthcare product maker’s stock worth $1,618,000 after purchasing an additional 1,428 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Abbott Laboratories by 25.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,435,683 shares of the healthcare product maker’s stock worth $195,267,000 after buying an additional 292,547 shares during the period. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Stock Down 1.8%

Shares of ABT opened at $110.48 on Tuesday. The company 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. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $137.49. The stock’s 50-day moving average price is $103.06 and its 200-day moving average price is $100.13. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.57.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.03. The firm 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% on a year-over-year basis. During the same period in the previous year, the firm 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. On average, sell-side analysts predict that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

ABT has been the subject of several research analyst reports. Bank of America decreased their price target on shares of Abbott Laboratories from $120.00 to $102.00 in a research note on Friday, June 12th. Weiss Ratings raised shares of Abbott Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on Abbott Laboratories from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Robert W. Baird began coverage on shares of Abbott Laboratories in a research report on Wednesday, July 1st. They issued an “outperform” rating and a $121.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on Abbott Laboratories from $109.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, July 17th. 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $119.50.

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.