Riverchase Wealth Management LLC Makes New $790,000 Investment in Abbott Laboratories $ABT

Riverchase Wealth Management LLC bought a new stake in Abbott Laboratories (NYSE:ABT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 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 portfolio, making the stock its 19th biggest position.

Several other institutional investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $25,000. Cornerstone Financial Management LLC bought a new position in Abbott Laboratories in the 4th quarter valued at $25,000. Purpose Unlimited Inc. bought a new stake in shares of Abbott Laboratories during the fourth quarter worth $25,000. Portfolio Resources Advisor Group Inc. bought a new position in shares of Abbott Laboratories in the fourth quarter worth about $26,000. Finally, Abound Financial LLC bought a new position in shares of Abbott Laboratories in the fourth quarter worth about $26,000. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Trading Down 0.5%

Shares of NYSE:ABT opened at $110.68 on Tuesday. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $137.49. The business’s fifty day simple moving average is $98.08 and its 200-day simple moving average is $99.79. The company has a market capitalization of $191.52 billion, a PE ratio of 35.82, a P/E/G ratio of 2.15 and a beta of 0.59. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. The company had revenue of $12.59 billion for the quarter, compared to the consensus estimate of $12.52 billion. Abbott Laboratories had a return on equity of 17.69% and a net margin of 11.65%.The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 earnings per share. 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, equities research analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Wednesday, July 15th were given a dividend of $0.63 per share. 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 is presently 81.55%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ABT. Royal Bank Of Canada reiterated an “outperform” rating and set a $130.00 price objective on shares of Abbott Laboratories in a report on Friday, July 17th. Daiwa Securities Group lowered shares of Abbott Laboratories from an “outperform” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research report on Wednesday, April 22nd. Citigroup boosted their price target on Abbott Laboratories from $108.00 to $112.00 and gave the company a “buy” rating in a report on Friday, July 17th. Piper Sandler reissued an “overweight” rating and issued a $118.00 price objective (up from $115.00) on shares of Abbott Laboratories in a research note on Friday, July 17th. Finally, Leerink Partners decreased their target price on Abbott Laboratories from $119.00 to $106.00 and set a “market perform” rating for the company in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.67.

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.