First Hawaiian Bank Decreases Stake in Abbott Laboratories $ABT

Key Points

• First Hawaiian Bank reduced its holdings in Abbott Laboratories by 45.8%, selling 7,292 shares and leaving it with a total of 8,629 shares valued at approximately $1,145,000.
• Analysts from brokerages have mixed sentiments, with Wells Fargo decreasing its price objective from $147.00 to $142.00 while Royal Bank of Canada has increased its price target on the stock from $145.00 to $147.00.
• CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories at an average price of $134.55, marking a 9.81% decrease in his ownership of the stock.

First Hawaiian Bank lowered its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 45.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 8,629 shares of the healthcare product maker's stock after selling 7,292 shares during the period. First Hawaiian Bank's holdings in Abbott Laboratories were worth $1,145,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in ABT. Vanguard Group Inc. boosted its holdings in shares of Abbott Laboratories by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker's stock valued at $22,527,039,000 after acquiring an additional 1,177,739 shares in the last quarter. Wellington Management Group LLP increased its holdings in Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock valued at $3,948,117,000 after purchasing an additional 3,371,113 shares during the period. Goldman Sachs Group Inc. grew its holdings in Abbott Laboratories by 29.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock worth $2,120,516,000 after acquiring an additional 3,616,471 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Abbott Laboratories by 12.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker's stock worth $1,916,966,000 after acquiring an additional 1,639,954 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Abbott Laboratories by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,108,416 shares of the healthcare product maker's stock worth $1,738,831,000 after purchasing an additional 168,095 shares in the last quarter. Institutional investors own 75.18% of the company's stock.

Insider Buying and Selling at Abbott Laboratories

In related 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 transaction of $746,752.50. Following the completion of the sale, the chief financial officer directly owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade 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 accessible through this link. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ABT shares. Leerink Partners began coverage on shares of Abbott Laboratories in a research report on Monday, June 16th. They set a "market perform" rating and a $143.00 target price on the stock. Wells Fargo & Company dropped their price objective on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Morgan Stanley boosted 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. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Finally, William Blair upgraded shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Two 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $144.47.

Abbott Laboratories Stock Performance

Abbott Laboratories stock traded up $1.43 during mid-day trading on Tuesday, reaching $132.76. 5,400,392 shares of the company traded hands, compared to its average volume of 6,654,774. The firm's fifty day moving average is $130.36 and its two-hundred day moving average is $131.21. The company has a market capitalization of $231.06 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 2.54 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. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly 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 net margin of 32.43% and a return on equity of 18.32%. The firm had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the prior year, the firm posted $1.14 earnings per share. The firm'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. On average, equities research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

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.