Riverchase Wealth Management LLC Invests $790,000 in Abbott Laboratories $ABT

Riverchase Wealth Management LLC acquired a new stake in shares of Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 8,704 shares of the healthcare product maker’s stock, valued at approximately $790,000. Abbott Laboratories accounts for about 0.4% of Riverchase Wealth Management LLC’s investment portfolio, making the stock its 19th largest position.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on ABT shares. Wells Fargo & Company boosted their target price on shares of Abbott Laboratories from $109.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Barclays reduced their price target on shares of Abbott Laboratories from $144.00 to $143.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. UBS Group dropped their price objective on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, July 28th. Piper Sandler restated an “overweight” rating and set a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. Finally, Wolfe Research upgraded Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 target price on the stock in a research report on Thursday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.67.

Abbott Laboratories Price Performance

ABT stock opened at $110.68 on Tuesday. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $137.49. The firm has a market capitalization of $191.52 billion, a P/E ratio of 35.82, a price-to-earnings-growth ratio of 2.15 and a beta of 0.59. The company has a fifty day simple moving average of $98.08 and a two-hundred day simple moving average of $99.79. 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, topping analysts’ consensus estimates of $1.28 by $0.03. The firm had revenue of $12.59 billion for the quarter, compared to the consensus estimate 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 posted $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. Analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current fiscal 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 dividend of $0.63 per share. The ex-dividend date 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 is 81.55%.

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.