Empowered Funds LLC Has $6.73 Million Holdings in Abbott Laboratories $ABT

Key Points

• Empowered Funds LLC increased its stake in Abbott Laboratories by 4.7% during Q1 2023, holding a total of 50,724 shares valued at approximately $6.73 million.
• The CFO of Abbott Laboratories, Philip P. Boudreau, sold 5,550 shares, representing a 9.81% reduction in his ownership, for a total of $746,752.50.
• Abbott Laboratories reported $1.26 earnings per share for Q2, matching consensus estimates, with a revenue increase of 7.4% year-over-year, totaling $11.14 billion.

Empowered Funds LLC increased its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 4.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,724 shares of the healthcare product maker's stock after buying an additional 2,266 shares during the period. Empowered Funds LLC's holdings in Abbott Laboratories were worth $6,729,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Hughes Financial Services LLC acquired a new stake in shares of Abbott Laboratories in the first quarter worth approximately $27,000. Abound Financial LLC acquired a new stake in shares of Abbott Laboratories in the first quarter worth $28,000. Elequin Capital LP purchased a new position in shares of Abbott Laboratories in the 1st quarter valued at $30,000. JCIC Asset Management Inc. acquired a new position in shares of Abbott Laboratories during the 1st quarter valued at $32,000. Finally, Vision Financial Markets LLC acquired a new stake in Abbott Laboratories in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 75.18% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on ABT. Leerink Partnrs upgraded Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. BTIG Research reduced their price target on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Morgan Stanley increased their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a research report on Thursday, July 17th. Finally, Mizuho raised their price target on shares of Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $144.47.

Insider Buying and Selling

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on 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 $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 can be accessed through this link. Insiders own 0.46% of the company's stock.

Abbott Laboratories Price Performance

Abbott Laboratories stock traded up $1.27 during midday trading on Friday, hitting $133.92. The company's stock had a trading volume of 5,700,290 shares, 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 quick ratio of 1.30, a current ratio of 1.82 and a debt-to-equity ratio of 0.25. The stock's 50-day moving average price is $130.41 and its 200-day moving average price is $131.32. The company has a market capitalization of $233.08 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share (EPS) 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 company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the previous year, the firm earned $1.14 earnings per share. 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. Analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

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.