Harmony Asset Management LLC Takes Position in Abbott Laboratories $ABT

Harmony Asset Management LLC acquired a new position in Abbott Laboratories (NYSE:ABT - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,560 shares of the healthcare product maker's stock, valued at approximately $1,230,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Nia Impact Advisors LLC boosted its stake in Abbott Laboratories by 2.2% during the second quarter. Nia Impact Advisors LLC now owns 3,706 shares of the healthcare product maker's stock worth $504,000 after buying an additional 79 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its stake in shares of Abbott Laboratories by 9.3% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,031 shares of the healthcare product maker's stock valued at $140,000 after buying an additional 88 shares in the last quarter. Eley Financial Management Inc lifted its holdings in shares of Abbott Laboratories by 0.9% during the 4th quarter. Eley Financial Management Inc now owns 10,817 shares of the healthcare product maker's stock worth $1,355,000 after acquiring an additional 92 shares during the period. Copley Financial Group Inc. lifted its holdings in shares of Abbott Laboratories by 2.1% during the 4th quarter. Copley Financial Group Inc. now owns 4,435 shares of the healthcare product maker's stock worth $556,000 after acquiring an additional 93 shares during the period. Finally, Kelleher Financial Advisors boosted its position in shares of Abbott Laboratories by 2.9% during the 3rd quarter. Kelleher Financial Advisors now owns 3,301 shares of the healthcare product maker's stock valued at $442,000 after acquiring an additional 93 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $110.68 on Tuesday. The company has a fifty day moving average price of $98.08 and a 200 day moving average price of $99.79. The firm has a market cap of $191.52 billion, a PE ratio of 35.82, a PEG 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 has a 1-year low of $81.97 and a 1-year high of $137.49.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly 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 during 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 business's revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior 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. Research analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current fiscal year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Wednesday, July 15th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.3%. The ex-dividend date was Wednesday, July 15th. Abbott Laboratories's dividend payout ratio (DPR) is 81.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $130.00 target price on shares of Abbott Laboratories in a report on Friday, July 17th. Robert W. Baird initiated 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. Citigroup upped their price target on shares of Abbott Laboratories from $108.00 to $112.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. The Goldman Sachs Group decreased their price objective on shares of Abbott Laboratories from $121.00 to $113.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. Finally, Argus lowered their price objective on shares of Abbott Laboratories from $140.00 to $125.00 and set a "buy" 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 given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.67.

Abbott Laboratories 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source