Red Spruce Capital LLC Has $3.86 Million Stock Position in Abbott Laboratories $ABT

Key Points

• Red Spruce Capital LLC reduced its stake in Abbott Laboratories by 16%, holding 28,401 shares valued at approximately $3.86 million, making it the 17th largest investment in their portfolio.
• Institutional investors now own 75.18% of Abbott Laboratories, with several major funds, including Vanguard and Goldman Sachs, boosting their shares significantly in recent quarters.
• Abbott Laboratories reported $1.26 EPS for the last quarter, meeting analysts' expectations, with revenue increasing by 7.4% year-over-year.

Red Spruce Capital LLC decreased its holdings in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 16.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,401 shares of the healthcare product maker's stock after selling 5,403 shares during the quarter. Abbott Laboratories makes up about 1.7% of Red Spruce Capital LLC's holdings, making the stock its 17th biggest position. Red Spruce Capital LLC's holdings in Abbott Laboratories were worth $3,863,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake 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 worth $22,527,039,000 after purchasing an additional 1,177,739 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Abbott Laboratories by 12.8% during the 1st quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker's stock worth $3,948,117,000 after buying an additional 3,371,113 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of 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 buying an additional 3,616,471 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of 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 buying an additional 1,639,954 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 buying an additional 168,095 shares during the period. Institutional investors and hedge funds own 75.18% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Mizuho upped their price objective on shares of Abbott Laboratories from $130.00 to $140.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. William Blair raised shares of Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Leerink Partnrs raised shares of Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Finally, Raymond James Financial reduced their price target on shares of Abbott Laboratories from $142.00 to $141.00 and set an "outperform" rating for the company in a report on Friday, July 18th. 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.47.

Insider Activity at Abbott Laboratories

In other 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 transaction, the chief financial officer directly owned 51,003 shares of the company's stock, valued at approximately $6,862,453.65. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company's stock.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $133.92 on Monday. The firm has a fifty day moving average price of $130.41 and a two-hundred day moving average price of $131.25. The company has a market cap of $233.08 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 2.54 and a beta of 0.69. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. 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 (NYSE:ABT - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The healthcare product maker reported $1.26 EPS for the quarter, hitting analysts' consensus estimates of $1.26. The company had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $11.01 billion. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The firm's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $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. Analysts expect that Abbott Laboratories will post 5.14 EPS for the current year.

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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