Abbott Laboratories $ABT Position Decreased by First Long Island Investors LLC

Key Points

• First Long Island Investors LLC reduced its stake in Abbott Laboratories by 1.4%, now holding approximately $56.62 million worth of shares, making it their 3rd largest investment.
• Abbott Laboratories' shares have a consensus rating of "Moderate Buy" from analysts, with price targets ranging from $130 to $144.47 following various upgrades and downgrades.
• CFO Philip P. Boudreau sold 5,550 shares recently, a transaction that resulted in a 9.81% decrease in his position, reflecting ongoing insider trading activities in the company.

First Long Island Investors LLC lowered its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 426,824 shares of the healthcare product maker's stock after selling 6,080 shares during the period. Abbott Laboratories accounts for 4.7% of First Long Island Investors LLC's holdings, making the stock its 3rd biggest position. First Long Island Investors LLC's holdings in Abbott Laboratories were worth $56,618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABT. Hughes Financial Services LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at $27,000. Abound Financial LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at $28,000. Elequin Capital LP acquired a new position in Abbott Laboratories in the 1st quarter valued at $30,000. Wormser Freres Gestion acquired a new stake in shares of Abbott Laboratories in the fourth quarter valued at approximately $32,000. Finally, JCIC Asset Management Inc. acquired a new stake in shares of Abbott Laboratories in the first quarter valued at approximately $32,000. Institutional investors own 75.18% of the company's stock.

Abbott Laboratories Stock Up 1.1%

Shares of NYSE:ABT traded up $1.43 during trading on Tuesday, reaching $132.76. 5,392,695 shares of the stock were exchanged, compared to its average volume of 6,643,886. 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 1-year low of $110.86 and a 1-year high of $141.23. The stock has a fifty day moving average of $130.36 and a two-hundred day moving average of $131.21. The firm has a market cap 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.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its earnings results 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 company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. Abbott Laboratories's revenue for the quarter 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. Research analysts anticipate that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Evercore ISI lifted their price target on shares of Abbott Laboratories from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Mizuho raised their price target on Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Royal Bank Of Canada raised their price target on Abbott Laboratories from $145.00 to $147.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Leerink Partners started coverage on Abbott Laboratories in a research report on Monday, June 16th. They issued a "market perform" rating and a $143.00 price target on the stock. Finally, 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. 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. Based on data from MarketBeat, Abbott Laboratories has an average rating of "Moderate Buy" and a consensus target price of $144.47.

Insider Transactions at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $134.55, for a total value 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. This represents a 9.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by company insiders.

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.