Pinnacle West Asset Management Inc. Makes New Investment in Abbott Laboratories $ABT

Pinnacle West Asset Management Inc. bought a new position in shares of Abbott Laboratories (NYSE:ABT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,000 shares of the healthcare product maker’s stock, valued at approximately $726,000.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Abbott Laboratories by 4.6% in the 2nd quarter. BlackRock Inc. now owns 152,563,476 shares of the healthcare product maker’s stock worth $13,843,610,000 after purchasing an additional 6,769,518 shares during the period. State Street Corp raised its position in shares of Abbott Laboratories by 2.1% in the fourth quarter. State Street Corp now owns 79,853,782 shares of the healthcare product maker’s stock valued at $10,004,880,000 after purchasing an additional 1,627,791 shares during the period. Capital International Investors boosted its holdings in Abbott Laboratories by 2.6% in the 4th quarter. Capital International Investors now owns 63,229,445 shares of the healthcare product maker’s stock worth $7,922,519,000 after buying an additional 1,614,706 shares during the period. J. Stern & Co. LLP boosted its holdings in shares of Abbott Laboratories by 12,439.6% in the fourth quarter. J. Stern & Co. LLP now owns 39,319,009 shares of the healthcare product maker’s stock worth $4,926,279,000 after acquiring an additional 39,005,451 shares during the period. Finally, Capital Research Global Investors lifted its holdings in Abbott Laboratories by 1.0% during the 4th quarter. Capital Research Global Investors now owns 39,169,239 shares of the healthcare product maker’s stock worth $4,907,523,000 after purchasing an additional 400,400 shares in the last quarter. 75.18% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Stock Down 1.8%

Shares of NYSE:ABT opened at $110.48 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 0.97 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $103.06 and a two-hundred day simple moving average of $100.13. Abbott Laboratories has a 12-month low of $81.97 and a 12-month high of $137.49. The stock 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 (NYSE:ABT) last posted its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $1.31 earnings per share (EPS) for the quarter, topping 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 return on equity of 17.69% and a net margin of 11.65%.Abbott Laboratories’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter 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, research analysts anticipate that Abbott Laboratories will post 5.52 earnings per share for the current fiscal 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. The ex-dividend date was Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. Abbott Laboratories’s payout ratio is 81.55%.

Wall Street Analysts Forecast Growth

ABT has been the subject of a number of recent research reports. BTIG Research boosted their target price on Abbott Laboratories from $131.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Robert W. Baird began coverage on Abbott Laboratories in a research note on Wednesday, July 1st. They issued an “outperform” rating and a $121.00 target price for the company. TD Cowen boosted their price objective on Abbott Laboratories from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. UBS Group dropped their price target on shares of Abbott Laboratories from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. Finally, The Goldman Sachs Group reduced their price target on Abbott Laboratories from $121.00 to $113.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.50.

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.