Swedbank AB Sells 77,261 Shares of Abbott Laboratories $ABT

Key Points

• Swedbank AB has reduced its stake in Abbott Laboratories by 4.5% to 1,628,328 shares, following the sale of 77,261 shares worth approximately $216 million.
• Recent analyst ratings for Abbott Laboratories show a consensus of "Moderate Buy" with an average target price of $144.47, indicating positive sentiment among financial experts.
• Abbott Laboratories reported a quarterly revenue of $11.14 billion, surpassing analysts' expectations and showing a 7.4% increase year-over-year.

Swedbank AB cut its stake in shares of Abbott Laboratories (NYSE:ABT - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,628,328 shares of the healthcare product maker's stock after selling 77,261 shares during the period. Swedbank AB owned 0.09% of Abbott Laboratories worth $215,998,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cim LLC increased its position in shares of Abbott Laboratories by 0.4% during the fourth quarter. Cim LLC now owns 16,967 shares of the healthcare product maker's stock valued at $1,919,000 after buying an additional 73 shares during the period. Consilium Wealth Advisory LLC increased its position in shares of Abbott Laboratories by 2.1% during the first quarter. Consilium Wealth Advisory LLC now owns 3,822 shares of the healthcare product maker's stock valued at $507,000 after buying an additional 78 shares during the period. Mayflower Financial Advisors LLC increased its position in shares of Abbott Laboratories by 0.5% during the first quarter. Mayflower Financial Advisors LLC now owns 17,327 shares of the healthcare product maker's stock valued at $2,298,000 after buying an additional 78 shares during the period. Opes Wealth Management LLC increased its position in shares of Abbott Laboratories by 2.9% during the first quarter. Opes Wealth Management LLC now owns 2,854 shares of the healthcare product maker's stock valued at $379,000 after buying an additional 80 shares during the period. Finally, Lcnb Corp increased its position in shares of Abbott Laboratories by 0.5% during the first quarter. Lcnb Corp now owns 15,917 shares of the healthcare product maker's stock valued at $2,111,000 after buying an additional 80 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 recent analyst reports. William Blair raised Abbott Laboratories to a "strong-buy" rating in a report on Thursday, July 17th. Morgan Stanley boosted their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Evercore ISI boosted their price objective on Abbott Laboratories from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Leerink Partnrs raised Abbott Laboratories to a "hold" rating in a report on Monday, June 16th. Finally, BTIG Research cut their price objective on Abbott Laboratories from $148.00 to $145.00 and set a "buy" rating for the company in a report on Friday, July 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $144.47.

Insider Buying and Selling at Abbott Laboratories

In other news, CFO Philip P. Boudreau sold 5,550 shares of the stock in a transaction that occurred on 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. This represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.46% of the company's stock.

Abbott Laboratories Stock Up 2.5%

Shares of NYSE ABT opened at $132.56 on Friday. Abbott Laboratories has a one year low of $110.86 and a one year 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. The firm's 50 day simple moving average is $130.40 and its two-hundred day simple moving average is $131.33. The stock has a market capitalization of $230.72 billion, a P/E ratio of 16.61, a PEG ratio of 2.45 and a beta of 0.69.

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, meeting analysts' consensus estimates of $1.26. Abbott Laboratories had a net margin of 32.43% and a return on equity of 18.32%. The business had revenue of $11.14 billion for the quarter, compared to analysts' expectations of $11.01 billion. During the same period last year, the business earned $1.14 earnings per share. The business's quarterly revenue 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 expect that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

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.

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