Advisors Asset Management Inc. Sells 6,062 Shares of Abbott Laboratories $ABT

Key Points

• Advisors Asset Management Inc. reduced its stakes in Abbott Laboratories by 21.0%, owning 22,862 shares valued at approximately $3.03 million after selling 6,062 shares in the 1st quarter.
• The CFO of Abbott Laboratories, Philip P. Boudreau, sold 5,550 shares for about $746,752, decreasing his ownership by 9.81%.
• Abbott Laboratories reported a 7.4% year-over-year revenue increase with quarterly earnings per share meeting expectations at $1.26.

Advisors Asset Management Inc. trimmed its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 21.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,862 shares of the healthcare product maker's stock after selling 6,062 shares during the period. Advisors Asset Management Inc.'s holdings in Abbott Laboratories were worth $3,033,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ABT. Hughes Financial Services LLC purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at approximately $27,000. Abound Financial LLC purchased a new stake in shares of Abbott Laboratories in the 1st quarter worth about $28,000. Elequin Capital LP purchased a new position in Abbott Laboratories during the 1st quarter valued at about $30,000. Wormser Freres Gestion bought a new stake in Abbott Laboratories during the fourth quarter worth about $32,000. Finally, JCIC Asset Management Inc. purchased a new stake in Abbott Laboratories in the first quarter worth about $32,000. 75.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on ABT. Morgan Stanley boosted their price target on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Mizuho increased their target price 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 dropped their price target on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Evercore ISI raised their price objective on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada upped their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $144.47.

Abbott Laboratories Stock Performance

Shares of ABT stock traded up $1.27 during trading hours on Friday, reaching $133.92. 5,700,290 shares of the company traded hands, compared to its average volume of 4,674,658. Abbott Laboratories has a 12-month low of $110.86 and a 12-month high of $141.23. 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 company has a market cap 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 firm has a 50-day moving average price of $130.41 and a 200 day moving average price of $131.32.

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 for the quarter, hitting analysts' consensus estimates of $1.26. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $11.01 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The business's quarterly revenue 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. As a group, sell-side analysts predict that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company's 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 sale, the chief financial officer 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by company 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.