Modern Wealth Management LLC Raises Stock Holdings in Abbott Laboratories $ABT

Key Points

• Modern Wealth Management LLC increased its stake in Abbott Laboratories by 11.4% during the first quarter, acquiring an additional 4,608 shares, bringing its total holdings to a value of $5,953,000.
• Major institutional investors, including Vanguard Group and Goldman Sachs, have also increased their stakes in Abbott Laboratories, contributing to the 75.18% of shares currently owned by hedge funds and other institutional investors.
• Abbott Laboratories reported stable Q2 earnings of $1.26 per share, meeting consensus estimates, and projected FY 2025 EPS growth guidance between 5.100-5.200.

Modern Wealth Management LLC lifted its holdings in Abbott Laboratories (NYSE:ABT - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,879 shares of the healthcare product maker's stock after buying an additional 4,608 shares during the quarter. Modern Wealth Management LLC's holdings in Abbott Laboratories were worth $5,953,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABT. Vanguard Group Inc. grew its stake in Abbott Laboratories by 0.7% in the first quarter. Vanguard Group Inc. now owns 169,823,136 shares of the healthcare product maker's stock worth $22,527,039,000 after purchasing an additional 1,177,739 shares in the last quarter. Wellington Management Group LLP grew its stake 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 worth $3,948,117,000 after purchasing an additional 3,371,113 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker's stock worth $2,120,516,000 after purchasing an additional 3,616,471 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Abbott Laboratories by 12.8% in the first 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 purchasing an additional 1,639,954 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Abbott Laboratories by 1.3% in the first 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. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of Abbott Laboratories stock in a transaction dated Friday, August 8th. The stock was 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 owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. The trade was a 9.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Up 2.5%

Shares of ABT stock opened at $132.56 on Friday. Abbott Laboratories has a 1-year low of $110.86 and a 1-year high of $141.23. The stock's fifty day moving average price is $130.40 and its 200 day moving average price is $131.33. 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 $230.72 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 2.45 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 for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $11.01 billion. During the same period in the previous year, the business earned $1.14 EPS. The firm'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. On average, research analysts expect that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ABT has been the topic of several research analyst reports. William Blair raised Abbott Laboratories to a "strong-buy" rating in a research note on Thursday, July 17th. Mizuho increased their target price on Abbott Laboratories from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. 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. Wells Fargo & Company decreased their price objective on Abbott Laboratories from $147.00 to $142.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Finally, BTIG Research decreased their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Two equities research 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's stock. According to MarketBeat.com, Abbott Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

Abbott Laboratories 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.

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