Maloon Powers Pitre Higgins & Dennehy LLC Purchases New Position in Abbott Laboratories $ABT

Maloon Powers Pitre Higgins & Dennehy LLC acquired a new stake in Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,656 shares of the healthcare product maker’s stock, valued at approximately $423,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABT. Cornerstone Financial Management LLC acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at about $25,000. MidAtlantic Capital Management Inc. acquired a new position in Abbott Laboratories during the 4th quarter worth approximately $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. acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $26,000. Finally, Abound Financial LLC acquired a new stake in Abbott Laboratories in the fourth quarter valued at approximately $26,000. Institutional investors and hedge funds own 75.18% of the company’s stock.

Abbott Laboratories Stock Performance

Shares of ABT opened at $108.29 on Monday. The stock has a market capitalization of $187.38 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 2.01 and a beta of 0.59. The business’s fifty day moving average price is $104.43 and its 200 day moving average price is $100.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.38 and a quick ratio of 0.97. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $137.49.

Abbott Laboratories (NYSE:ABT) last released 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. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The firm had revenue of $12.59 billion during the quarter, compared to analyst estimates of $12.52 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The firm’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. Equities research analysts forecast that Abbott Laboratories will post 5.52 EPS for the current year.

Abbott Laboratories Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Piper Sandler reissued an “overweight” rating and set a $118.00 target price (up from $115.00) on shares of Abbott Laboratories in a research report on Friday, July 17th. TD Cowen raised their price target on shares of Abbott Laboratories from $115.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. BTIG Research boosted their price objective on shares of Abbott Laboratories from $131.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, July 17th. Wolfe Research raised shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price objective for the company in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $130.00 target price on shares of Abbott Laboratories in a research note 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, Abbott Laboratories presently has a consensus 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.