Parallel Advisors LLC Boosts Holdings in Abbott Laboratories $ABT

Key Points

• Parallel Advisors LLC increased its stake in Abbott Laboratories by 1.7% during the second quarter, holding 129,750 shares valued at approximately $17.6 million.
• Abbott Laboratories reported Q2 earnings of $1.26 per share, meeting estimates, with revenue of $11.14 billion, marking a 7.4% year-over-year increase.
• Analysts have a consensus rating of "Moderate Buy" for Abbott Laboratories, with a current price target average of $144.47 following various rating adjustments from multiple firms.

Parallel Advisors LLC lifted its stake in Abbott Laboratories (NYSE:ABT - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,750 shares of the healthcare product maker's stock after purchasing an additional 2,210 shares during the quarter. Parallel Advisors LLC's holdings in Abbott Laboratories were worth $17,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Hughes Financial Services LLC purchased a new stake in shares of Abbott Laboratories during the 1st quarter valued at about $27,000. Abound Financial LLC purchased a new stake in Abbott Laboratories during the 1st quarter valued at approximately $28,000. Elequin Capital LP purchased a new stake in Abbott Laboratories during the 1st quarter valued at approximately $30,000. Wormser Freres Gestion purchased a new stake in Abbott Laboratories during the 4th quarter valued at approximately $32,000. Finally, JCIC Asset Management Inc. purchased a new position in shares of Abbott Laboratories in the first quarter valued at $32,000. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Up 1.0%

Shares of NYSE:ABT opened at $133.92 on Monday. The business's 50 day moving average price is $130.41 and its 200-day moving average price is $131.25. 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 firm has a market capitalization of $233.08 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. Abbott Laboratories has a 1 year low of $110.86 and a 1 year high of $141.23.

Abbott Laboratories (NYSE:ABT - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 earnings per share for the quarter, meeting analysts' consensus estimates of $1.26. The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $11.01 billion. Abbott Laboratories had a return on equity of 18.32% and a net margin of 32.43%.The firm's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. 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 forecast that Abbott Laboratories will post 5.14 earnings per share for the current fiscal year.

Insider Activity

In other 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 value of $746,752.50. Following the completion of the transaction, the chief financial officer owned 51,003 shares in the company, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ABT. BTIG Research cut their target price on shares of Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Evercore ISI lifted their target price on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Raymond James Financial decreased their price objective on Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. 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 report on Friday, July 18th. Finally, Leerink Partners initiated coverage on shares of Abbott Laboratories in a report on Monday, June 16th. They issued a "market perform" rating and a $143.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently 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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