Abbott Laboratories $ABT Shares Sold by Jacobs & Co. CA

Key Points

• Jacobs & Co. CA reduced its stake in Abbott Laboratories by 5.0% during Q2, selling 3,133 shares and holding a total of 60,002 shares valued at $8.16 million.
• Abbott Laboratories reported $1.26 EPS for Q2, matching analysts' expectations, and its revenue increased by 7.4% year over year, totaling $11.14 billion.
• Analysts have varied price targets for Abbott Laboratories, with the consensus rating at "Moderate Buy" and an average price target of $144.47.

Jacobs & Co. CA lowered its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 5.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,002 shares of the healthcare product maker's stock after selling 3,133 shares during the period. Jacobs & Co. CA's holdings in Abbott Laboratories were worth $8,160,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ABT. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories during the first quarter valued at $27,000. Abound Financial LLC acquired a new stake in Abbott Laboratories in the 1st quarter worth about $28,000. Elequin Capital LP acquired a new stake in Abbott Laboratories in the 1st quarter worth about $30,000. Wormser Freres Gestion acquired a new stake in Abbott Laboratories in the 4th quarter worth about $32,000. Finally, JCIC Asset Management Inc. acquired a new stake in Abbott Laboratories in the 1st quarter worth about $32,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $133.92 on Friday. The company has a market cap of $233.08 billion, a P/E ratio of 16.78, a PEG ratio of 2.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.30 and a current ratio of 1.82. Abbott Laboratories has a one year low of $110.86 and a one year high of $141.23. The business's 50-day simple moving average is $130.41 and its 200 day simple moving average is $131.32.

Abbott Laboratories (NYSE:ABT - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The company had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the business earned $1.14 EPS. Abbott Laboratories's revenue for the quarter was up 7.4% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.100-5.200 EPS. Q3 2025 guidance at 1.280-1.320 EPS. On average, sell-side analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $134.55, for a total transaction of $746,752.50. Following the sale, the chief financial officer directly owned 51,003 shares in the company, valued at $6,862,453.65. The trade was a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ABT. Leerink Partners began coverage on Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target on the stock. Mizuho raised their price target on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Wells Fargo & Company reduced their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Morgan Stanley lifted their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Evercore ISI lifted their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $144.47.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.