Proficio Capital Partners LLC Purchases New Position in Abbott Laboratories $ABT

Proficio Capital Partners LLC purchased a new position in Abbott Laboratories (NYSE:ABT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,158 shares of the healthcare product maker’s stock, valued at approximately $1,103,000.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ABT shares. The Goldman Sachs Group reduced their target price on shares of Abbott Laboratories from $121.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Robert W. Baird assumed coverage on shares of Abbott Laboratories in a research note on Wednesday, July 1st. They set an “outperform” rating and a $121.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Abbott Laboratories from $109.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Weiss Ratings upgraded Abbott Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Finally, Wolfe Research raised Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 target price on the stock in a report on Thursday, August 13th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Abbott Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.50.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $108.29 on Friday. The firm has a market cap of $187.38 billion, a P/E ratio of 35.05, a PEG ratio of 2.01 and a beta of 0.59. Abbott Laboratories has a twelve month low of $81.97 and a twelve month high of $137.49. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $104.43 and a 200 day moving average of $100.12.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 EPS for the quarter, beating the consensus estimate of $1.28 by $0.03. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%.The business had revenue of $12.59 billion for the quarter, compared to the consensus estimate of $12.52 billion. During the same period last year, the business posted $1.26 EPS. The company’s revenue 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, research analysts expect that Abbott Laboratories will post 5.52 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

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

About Abbott Laboratories

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.