Abner Herrman & Brock LLC Reduces Stock Holdings in Abbott Laboratories $ABT

Key Points

• Abner Herrman & Brock LLC reduced its holdings in Abbott Laboratories by 1.7%, now owning 135,096 shares valued at approximately $18.37 million.
• Abbott Laboratories reported $1.26 EPS for the last quarter, meeting analysts' expectations and demonstrating a 7.4% increase in revenue year-over-year.
• Various brokerages raised their price targets for Abbott, with Jefferies Financial Group upgrading the stock to a "buy" rating and increasing its target from $143 to $145.

Abner Herrman & Brock LLC lessened its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,096 shares of the healthcare product maker's stock after selling 2,299 shares during the quarter. Abbott Laboratories accounts for 2.1% of Abner Herrman & Brock LLC's portfolio, making the stock its 25th largest position. Abner Herrman & Brock LLC's holdings in Abbott Laboratories were worth $18,374,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Kelly Financial Services LLC acquired a new stake in Abbott Laboratories during the 1st quarter valued at approximately $216,000. Bank Pictet & Cie Europe AG grew its stake in Abbott Laboratories by 1.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after purchasing an additional 2,774 shares in the last quarter. Edge Financial Advisors LLC grew its stake in Abbott Laboratories by 3.3% during the 1st quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after purchasing an additional 81 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Abbott Laboratories during the 4th quarter valued at approximately $84,418,000. Finally, Cerity Partners LLC grew its stake in Abbott Laboratories by 49.8% during the 1st quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker's stock valued at $199,939,000 after purchasing an additional 501,200 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company's stock.

Abbott Laboratories Trading Up 1.0%

NYSE:ABT opened at $133.92 on Friday. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. The firm has a market capitalization of $233.08 billion, a P/E ratio of 16.78, a P/E/G ratio of 2.52 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30. The business has a 50 day simple moving average of $130.41 and a 200 day simple moving average of $131.29.

Abbott Laboratories (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The business had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The business'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. Equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABT. Morgan Stanley raised 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. Jefferies Financial Group upgraded Abbott Laboratories from a "hold" rating to a "buy" rating and lifted their target price for the stock from $143.00 to $145.00 in a research report on Friday, July 18th. BTIG Research decreased their target price on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research report on Friday, July 18th. William Blair upgraded Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Finally, Wells Fargo & Company decreased their target price on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $144.47.

Insider Transactions at Abbott Laboratories

In related news, CFO Philip P. Boudreau sold 5,550 shares of the business's 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 completion of the transaction, the chief financial officer 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 SEC, which is available through this hyperlink. 0.46% of the stock is owned by corporate insiders.

About Abbott Laboratories

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.

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