Focus Partners Wealth Has $66.44 Million Holdings in Abbott Laboratories $ABT

Key Points

• Focus Partners Wealth increased its stake in Abbott Laboratories by 16.6%, acquiring an additional 71,403 shares, bringing its total holdings to 500,867 shares worth approximately $66.44 million.
• In the first quarter, several hedge funds, including Vanguard Group and Goldman Sachs Group, also increased their holdings, with institutional investors now owning 75.18% of Abbott's stock.
• Abbott Laboratories reported a net margin of 32.43% and a return on equity of 18.32% for the quarter, meeting the consensus earnings estimate of $1.26 per share and generating revenue of $11.14 billion.

Focus Partners Wealth raised its position in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 16.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500,867 shares of the healthcare product maker's stock after acquiring an additional 71,403 shares during the period. Focus Partners Wealth's holdings in Abbott Laboratories were worth $66,440,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Kelly Financial Services LLC bought a new stake in Abbott Laboratories during the first quarter valued at about $216,000. Bank Pictet & Cie Europe AG boosted its holdings in Abbott Laboratories by 1.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 152,719 shares of the healthcare product maker's stock valued at $17,274,000 after acquiring an additional 2,774 shares during the period. Edge Financial Advisors LLC boosted its holdings in Abbott Laboratories by 3.3% during the first quarter. Edge Financial Advisors LLC now owns 2,530 shares of the healthcare product maker's stock valued at $336,000 after acquiring an additional 81 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Abbott Laboratories during the fourth quarter valued at about $84,418,000. Finally, Cerity Partners LLC boosted its holdings in Abbott Laboratories by 49.8% during the first quarter. Cerity Partners LLC now owns 1,507,268 shares of the healthcare product maker's stock valued at $199,939,000 after acquiring an additional 501,200 shares during the period. 75.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABT has been the subject of several research reports. Morgan Stanley increased their target price on shares of Abbott Laboratories from $127.00 to $137.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Wells Fargo & Company reduced their target price on shares of Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Leerink Partners initiated coverage on shares of Abbott Laboratories in a research note on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price for the company. Leerink Partnrs upgraded shares of Abbott Laboratories to a "hold" rating in a research note on Monday, June 16th. Finally, Royal Bank Of Canada increased their target price on shares of Abbott Laboratories from $145.00 to $147.00 and gave the company an "outperform" 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 assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $144.47.

Abbott Laboratories Trading Up 1.0%

Shares of ABT stock traded up $1.27 on Friday, hitting $133.92. The stock had a trading volume of 5,700,290 shares, compared to its average volume of 4,674,658. Abbott Laboratories has a twelve month low of $110.86 and a twelve month high of $141.23. The firm has a market cap of $233.08 billion, a P/E ratio of 16.78, a PEG ratio of 2.52 and a beta of 0.69. The company has a current ratio of 1.82, a quick ratio of 1.30 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average price of $130.41 and a two-hundred day moving average price of $131.32.

Abbott Laboratories (NYSE:ABT - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting the consensus estimate 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 analysts' expectations of $11.01 billion. During the same period in the previous year, the firm posted $1.14 EPS. The company'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. As a group, analysts forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Philip P. Boudreau sold 5,550 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $134.55, for a total value of $746,752.50. Following the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This represents a 9.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company's stock.

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.