Schmidt P J Investment Management Inc. Decreases Position in Abbott Laboratories $ABT

Key Points

• Schmidt P J Investment Management Inc. has reduced its holdings in Abbott Laboratories by 5.4%, now owning 33,544 shares valued at approximately $4.45 million.
• Conversely, Nuveen LLC has acquired a significant new stake valued at $1.66 billion, while GAMMA Investing LLC dramatically increased its holdings by over 15,000% to 5,102,648 shares.
• Abbott Laboratories reported quarterly earnings of $1.26 EPS, meeting analyst expectations, and set FY 2025 guidance at 5.100-5.200 EPS amid a revenue increase of 7.4% year-over-year.

Schmidt P J Investment Management Inc. lowered its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 5.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,544 shares of the healthcare product maker's stock after selling 1,922 shares during the period. Schmidt P J Investment Management Inc.'s holdings in Abbott Laboratories were worth $4,450,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Hughes Financial Services LLC bought a new stake in shares of Abbott Laboratories in the first quarter worth $27,000. Abound Financial LLC bought a new position in shares of Abbott Laboratories during the first quarter worth about $28,000. Elequin Capital LP bought a new stake in Abbott Laboratories in the first quarter valued at about $30,000. Wormser Freres Gestion acquired a new stake in Abbott Laboratories during the fourth quarter valued at approximately $32,000. Finally, JCIC Asset Management Inc. bought a new position in Abbott Laboratories during the 1st quarter worth approximately $32,000. 75.18% of the stock is owned by institutional investors and hedge funds.

Abbott Laboratories Price Performance

Shares of NYSE ABT traded down $1.94 during trading hours on Monday, reaching $131.79. 1,209,283 shares of the stock traded hands, compared to its average volume of 6,645,122. The company has a market capitalization of $229.37 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. The company's 50-day simple moving average is $130.41 and its two-hundred day simple moving average is $131.25. The company has a quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. Abbott Laboratories has a 52-week low of $110.86 and a 52-week high of $141.23.

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

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the sale, the chief financial officer directly owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ABT shares. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Royal Bank Of Canada increased their price objective on shares of Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Leerink Partners began coverage on Abbott Laboratories in a report on Monday, June 16th. They set a "market perform" rating and a $143.00 target price for the company. Finally, Raymond James Financial dropped their price target on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating on the stock in a research report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.