Abbott Laboratories $ABT Shares Sold by Pensionfund Sabic

Key Points

• Pensionfund Sabic reduced its stake in Abbott Laboratories (NYSE: ABT) by 16.0%, now owning 21,000 shares valued at approximately $2.79 million.
• Abbott Laboratories reported $1.26 EPS for the recent quarter, matching the consensus estimate, with a revenue of $11.14 billion, exceeding expectations.
• A variety of analysts have issued reports on Abbott's stock, with appointments for upgraded ratings leading to an average price target of $144.47 and an overall rating of "Moderate Buy."

Pensionfund Sabic lessened its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 16.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 21,000 shares of the healthcare product maker's stock after selling 4,000 shares during the period. Abbott Laboratories comprises about 0.8% of Pensionfund Sabic's portfolio, making the stock its 27th largest holding. Pensionfund Sabic's holdings in Abbott Laboratories were worth $2,786,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at $28,000. Elequin Capital LP purchased a new stake in shares of Abbott Laboratories in the first quarter valued at $30,000. JCIC Asset Management Inc. purchased a new stake in shares of Abbott Laboratories in the first quarter valued at $32,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Abbott Laboratories in the first quarter valued at $33,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $133.92 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The firm has a market cap of $233.08 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 2.52 and a beta of 0.69. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23. The business has a fifty day simple moving average of $130.41 and a 200 day simple moving average of $131.32.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price on Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. BTIG Research cut their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Finally, Morgan Stanley increased their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $144.47.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $134.55, for a total transaction of $746,752.50. Following the transaction, the chief financial officer directly owned 51,003 shares of the company's stock, valued at $6,862,453.65. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding ABT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Abbott Laboratories (NYSE:ABT - Free Report).

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.