Matrix Asset Advisors Inc. NY Makes New $4.29 Million Investment in Abbott Laboratories $ABT

Matrix Asset Advisors Inc. NY purchased a new position in shares of Abbott Laboratories (NYSE:ABT – Free Report) in the 2nd quarter, Holdings Channel reports. The firm purchased 47,262 shares of the healthcare product maker’s stock, valued at approximately $4,289,000.

A number of other institutional investors have also made changes to their positions in the business. Cornerstone Financial Management LLC acquired a new position in Abbott Laboratories during the fourth quarter worth $25,000. MidAtlantic Capital Management Inc. bought a new stake in Abbott Laboratories during the 4th quarter worth about $25,000. Purpose Unlimited Inc. acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $25,000. Portfolio Resources Advisor Group Inc. acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $26,000. Finally, Abound Financial LLC bought a new stake in Abbott Laboratories during the fourth quarter worth about $26,000. Institutional investors own 75.18% of the company’s stock.

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Key Abbott Laboratories News

Here are the key news stories impacting Abbott Laboratories this week:

• Positive Sentiment: Alphabet AI partnership expands Abbott’s growth opportunity: Abbott and Alphabet announced a multiyear collaboration integrating data from Abbott’s over-the-counter Lingo continuous glucose monitor into the Google Health app. Google’s AI Health Coach is expected to use the data to provide personalized recommendations, potentially increasing Lingo adoption and strengthening Abbott’s position in consumer digital health. Can Abbott Laboratories’ Lingo Partnership With Alphabet Unlock a New Era of AI-Powered Health?
• Positive Sentiment: Wolfe Research upgraded ABT to Outperform: The firm raised its rating from “Peer Perform” and set a $130 price target, implying substantial upside from recent trading levels. The upgrade indicates improving analyst confidence in Abbott’s earnings durability and growth prospects.
• Positive Sentiment: Established Pharmaceuticals remains a growth driver: Abbott’s Established Pharmaceutical Products division is benefiting from emerging-market demand, a broad branded-generics portfolio and biosimilar opportunities. This provides diversification beyond the company’s medical-device businesses. What’s Backing Abbott’s Established Pharmaceuticals Division Growth
• Neutral Sentiment: Recent trading strength reflects broad investor support: Abbott outperformed some medical-product peers during a recent strong market session, while bullish commentary has highlighted the company’s diversified portfolio and long-term growth potential. Abbott Laboratories Stock Outperforms Competitors on Strong Trading Day
• Negative Sentiment: Valuation remains a potential constraint: With a forward-looking earnings multiple above 36 and the stock already well above its recent moving averages, further gains may require continued earnings execution and evidence that newer initiatives such as Lingo can materially contribute to revenue.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ABT shares. Evercore dropped their price objective on Abbott Laboratories from $134.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. Weiss Ratings raised shares of Abbott Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Sanford C. Bernstein lowered their target price on shares of Abbott Laboratories from $125.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Argus dropped their price target on shares of Abbott Laboratories from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Finally, Wolfe Research upgraded shares of Abbott Laboratories from a “peer perform” rating to an “outperform” rating and set a $130.00 price target for the company in a research note on Thursday. Three 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. According to data from MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $118.67.

Read Our Latest Research Report on ABT

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $111.27 on Friday. Abbott Laboratories has a 52 week low of $81.97 and a 52 week high of $137.49. The company has a market capitalization of $192.53 billion, a price-to-earnings ratio of 36.01, a PEG ratio of 2.15 and a beta of 0.59. The company has a 50-day simple moving average of $97.67 and a 200 day simple moving average of $99.83. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.97 and a current ratio of 1.38.

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, beating the consensus estimate of $1.28 by $0.03. The firm had revenue of $12.59 billion for the quarter, compared to analysts’ expectations of $12.52 billion. Abbott Laboratories had a net margin of 11.65% and a return on equity of 17.69%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior 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, sell-side analysts predict that Abbott Laboratories will post 5.52 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Wednesday, July 15th will be paid a dividend of $0.63 per share. The ex-dividend date is Wednesday, July 15th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.3%. Abbott Laboratories’s dividend payout ratio (DPR) is 81.55%.

About Abbott Laboratories

(Free Report)

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.

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